I don't think slowness will be any kind of issue going forward. I'm no Amiga or Hyperion apologist, as you all know...but this isn't going to be the issue.
This was a milestone...years late in my opinion, but nevertheless the milestone of booting on an AmigaONE, and the milestone of some kind of petunia integration.
This isn't time to judge the speed...now making a judgement about why its not yet, in 2003 ...time to judge a finalized product...is a valid criticism...but the speed just means this is unfinished...by the time its finished, if ever...it will be fast enough.
Of course a G4/933 is going to run an operating system so lightweight and lacking in features as OS 4.
I have full confidence it will run plenty fast.