It doesn't come across as laggy, but... smeary? if I move my head to the side, everything smears for a little bit before it snaps back into focus. It's a bit rough for me to move around in, but I'm pretty sensitive to motion.
That sounds like the phenomenon known as display persistence: https://developers.google.com/vr/discover/fundamentals#displ...
It's typically avoided by displaying images for a very short period, blanking them between frames and letting the eye and brain fill in the intervening time.
Smeary is the perfect word to describe it. Whereas I would’ve described my Meta quest 2 as laggy.