You’re right! The front page of Reddit is nearly 8x larger than Lemmy.ml, and took almost 7x longer to load than Lemmy.

Uncached loading results:

Lemmy: 3.3 MB, 39 requests in 1.85 seconds
Old Reddit: 6.3 MB, 60 requests in 4.53 seconds
New Reddit: 24.5 MB, 351 requests in 12.21 seconds