I just tested on a ramdisk:

  tool  cspeed    size  dspeed
  zstd  361 MB/s  16%   1321 MB/s
  lzop  512 MB/s  29%    539 MB/s
  lz4   555 MB/s  29%   1190 MB/s

If working from files on disk that happen not to be cached, the speed differences are likely to disappear, even on many NVMe disks.

(It just so happens that the concatenation of all text-looking .tar files I happen to have on this machine is roughly a gigabyte (though I did the math for the actual size)).