I will be working on this when I get cycles. Barring the issues already above, there are a lot of areas for optimizations, for instance how images are handled (i.e., they can be handled through object storage like Cloudflare R2 to decrease bandwidth/ram costs). Some is more dev-ops on how common instances are setup, others are code changes to make things more efficient.
Perhaps we should start a community or communication group for this?
It is fairly relevant to lemmy as is. Quite a few instances have ram constraints and are hitting swap. Consider how much worse it would be in python.
Currently most of the issues are architectural and can be fixed with tweaking how certain things are done (i.e., image hosting on an object store instead of locally).