It is slow. It cannot achieve speeds of greater than 1Gbps on clients systems (Windows & Mac), where you'd normally see it being used. On Linux, it struggles to achieve 10Gbps even when using a synthetic large packet benchmark [1]. With an IMIX benchmark, it would not be competitive whatsoever.
This problem is fixable. WireGuard achieves higher performance (Kernel vs Userspace implementation) and IPsec implementations can achieve 100Gbps/400Gbps (DPDK/XDP). Zero-copy networking.
From this blog post, I can say Tailscale still seems to not have the appetite for that, which is a shame.