We use Firebase for basically everything at our company ─ we run an API-first "digital keychain" ─ and we love it! however our API (based on Cloud Functions) response times were... not so great to say the least, with some of our endpoints taking more than a couple of seconds to respond, which was kind of a big issue for our clients.
We tried several techniques but by far what got us to reduce response times the most was migrating from Cloud Functions to Google Cloud Run.