At work we've tried switching to vitest, and it's 1.5-2x slower than Jest (I think it's related to our very large and circular module graph), so performance is very much a your-mileage-may-vary thing.
However vitest is still great! Selling points now are stuff like:
- shares config with vite
- works with ESM out of the box (I think Jest still doesn't)
- integrated browser testing mode that is very nice
- overall just has a ton of nicely integrated features
I have my 3000 test project suite completing in 15 seconds on my MacBook Air M3. It is pretty sweet with that setup.