It is certainly perceptibly slow. Carried out a test on my 12 year old PC running Win-10 vs a new HP Win11 laptop of my friend which he bought in a hurry before price increases. Opened a directory of several thousand files with nested folders - much slower at navigation. Much slower at opening right-click menus. Much slower at pretty much everything.

M$ has now introduced web-latency into the desktop along with their adoption of web-tech into the OS. You gotta get used to staring at that spinning blue circle, counting the many precious moments of your life draining away.