It probably wouldn't get exactly up to native high-end SSD performance but I'd wager you can get it close enough that people wouldn't care.
Meanwhile, try to do a "git status" right now in Linux in WSL2 on a sizable repo in your /mnt/c and feel yourself slowly die inside.
It seems like a bunch of people thought it would be a great science project to write custom kernel drivers for Linux and Windows and learn some stuff along the way. So now they're stuck supporting two complicated software implementations for god knows how long, because neither of them does the job on its own.
Like I said, I'm probably missing something. I'm a network guy, so maybe to me everything can be solved by the network stack.
(edited last line)