That's actually pretty solid. If it were 5-10x faster than that you could probably fit that into a lot of interesting use-cases for on-demand workloads. The bottleneck is the EC2 allocation itself, and I'd be interested in seeing what warm EC2 instances can do for you there.
That said, I think for the majority of use cases boot performance is not particularly important. If you want really fast 'boot' you might just want VMs and containers - that would cut out the 3-8 seconds of instance allocation time, as well as most of the rest of the work.
Curious to see a follow up on what's going on with FreeBSD - seems like it takes ages to get the network up.