I've seen just about anything on this front. People used to do SOAP which is all of the downsides of graphql and json rpc combined without most of the benefits. Stupidly complicated to do just about anything with it. It's a good reason people don't suggest that anymore for new APIs. REST APIs completely killed SOAP. The only places you see it these days are legacy systems from 15-20 years ago.
The thing with just about any kind of parsing overhead on servers is that it is completely dwarfed by network IO getting to the server and then more IO for getting to a database, redis, etc. Add ORM to the mix and you typically get this unoptimized mix of multiple calls to a database (because most orms suck at optimizing their joins). We're talking fractions of a percent of the time spent here. Web servers don't commonly use a lot of CPU time until they are handling dozens/hundreds of requests per second. With a asynchronous IO, you can server thousands of requests. The bottleneck usually becomes your database. Not the webservers. Those tend to run on cheap vms. Add more to scale at the cost of 10-20$ per month.
Back in the day when parsing overhead still mattered, we'd speed up our servers with a few simple tricks, which mainly boiled down to not buffering requests and responses. Use streaming parsers on the request payload, iteratively process whatever comes in, and stream the output as results become available. You'd be responding with the first bytes long before the last request byte had arrived. Great for processing large ndjson/csv files and responding with similar output. You can process mang GB of data with a single request this way. Doing this is hard but not impossible with modern asynchronous web framweworks. They all default to buffering everything and then processing and then responding. Reason: it's simpler and the performance difference simply does not matter.
But it's still a useful trick if time to the first bytes of your response matters to you and you have a really fast, tightly tuned backend. This is how you get to sub ms responses.