There are a few factors to the slow boot:
* The SD card I'm using in there is not the fastest. Easy fix.
* The kernel has some annoying pauses, particularly in WiFi initialization, that add a couple of seconds of delay. To fix this, I wanted to do driver loading via modules once the shell is already up and running, but unfortunately NetBSD hasn't modularized those drivers yet and it didn't seem trivial to do. Should be possible though.
* The rc startup framework is sluggish. I've been pondering a rewrite in native code to avoid huge shell scripts and to allow for parallel execution of early boot services, and that should help -- but it isn't done. (Ideally I'd just replace init with my own thingy.)
* The file system is not read only, so there is an initial fsck that adds a bit of a delay. I want to get to a point where it _is_ read only, which would eliminate this pause.
All in all, agree that 10 seconds is very far from "instant boot", but there is a lot of room for improvement.