For most web apps, the initial layout and rendering take the biggest portion of the rendering budget. Subsequent changes are minimal and can be rendered very fast. If you can avoid re-rendering the whole page for every little change, the update can be fast.
React's advantage is to track the changes for you. That doesn't mean you can't track the changes yourself. And if you structure your rendering and refreshing pipelines correctly, vanilla JS would do just fine if not better.
Virtual DOM still needs to reconcile and apply DOM updates, but since this is handled by your UI framework of choice you have limited ability to optimize these updates.
See benchmarks: https://krausest.github.io/js-framework-benchmark/current.ht...
I would argue that if performance is your top concern you'd still be better off using a framework like SolidJS, but theoretically JavaScript and JQuery can be better optimized.
https://krausest.github.io/js-framework-benchmark/current.ht...