With the View As feature enabled, the Team page for most projects now takes 2-3 minutes plus to load, versus being instantaneous with the feature turned off.
The fastest I have seen one load with the feature enabled is 28 seconds. Many take 2 to 3 minutes to load. They do eventually load, I haven’t gotten an error message.
Load times seem to be consistent for subsequent viewings of the team page. I will do more experimentation and share anything interesting I find.