At least other video conferencing tools don't lag like Meet, so users don't need to debug ;) I think this has to do with all of them using H.264 while Meet uses VP8/9.
(I’ve tried Safari, I’ve tried the native app, and I’ve even tried the phone bridge (!).)
For PCs with dedicated GPUs, Nvidia's matrix doesn't even mention VP8/9 encoding, and for decode there are a lot of VP8/9 "no"s for GPUs that have "yes" for H.264: https://developer.nvidia.com/video-encode-and-decode-gpu-sup...
AV1 looks like it's getting broader support, but it's still new. Zoom's release notes mention they'll use AV1 if the participants support it, and I don't see a similar note about VP8/9.