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According to the dev and some people, the frontend is more performant than Lemmy/Kbin/Mbin due to the smaller data sizes. I read that it was because the dev came from some african (?) city where they only had like what, 2G internet connections? As for the disadvantages, I can't say I find it great that it is written in Python. I don't like interpreted languages in production. That's all. Comparing the performance of it and the backend of Lemmy wouldn't be fair, since Lemmy's backend is written in Rust (compiled).
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Yes. Though not all features are federated (yet), for example flairs.
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Unless platforms start implementing the DID standard, this will be hacky to accomplish without weird artifacts. One other way is to do it how Mastodon does it, but that does not bring your content with it.
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Afaik only Interstellar supports it atm.
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No.
I don't see myself switching to it anytime soon.