Like, I installed Alacritty some years ago side-by-side with gnome-terminal, and gosh, I could not visually sense any difference. Do I have bad sight?
If you develop in an IDE you don't "live" in a terminal and most likely it will not matter what terminal program you use and you won't notice latency.
Very occasionally (once a week or less) do I open VS code or so. The rest of the 8+ hours a day I spend in vim, zsh and such.
I don't perceive gnome-terminal as slow, or it's high latency. Alacritty did not show me any difference from gnome-terminal; other than that I needed to learn a lot of new stuff which I'm not going to do if there's no clear win. For me there was no clear win.