Real computer systems have performance that varies due to memory locality and size.
Locality because of things such as cache hierarchy and even the size of cache lines and memory pages.
Size because of physical implementation: larger memories are physically bigger and hence further away. The speed of light makes access to larger memories inescapably slower.
The best current hashtable implementations are all quite far from the purely theoretical computer science optimums, but are faster despite this because they take these factors into account.
Back when CPUs were simple and had no virtual memory or caches, there was a good correspondence between theoretical CS algorithms and their real implementations.
Now? Everything I see published in this space is basically pure maths with little or no practical utility. It’s still interesting, sure, but it’s a bit sad that the theorists have retreated into a virtual world to escape the messy details of our reality.