`key` informs React of the identity of an element. That helps it during the reconciliation phase -- if it knows only one `key` in a list of DOM elements has changed, then it will run the DOM updates only on that one. Similarly if the order has changed, it only needs to move its index in the parent DOM element.

But it doesn't help in the rendering phase - aka when the virtual DOM is constructed when `render` is called on the root component, and all our JSX code is executed across the component hierarchy. Virtual DOM reconciliation cost is only a part of the performance penalty, re-running the "view as a function of state" computation is another major chunk.