It's very true today. The problem discussed here is performance on complex queries (e.g. subqueries), and the query planner plays a huge role in that. The Postgres query planner has various issues. Here are two recent posts talking about planner issues:
Also JIT compilation, while very nice and a step in the right direction, is very barebones at the moment, hardly achieving its potential. Here's a long todo list of what and how to make efficient use of JIT in postgres, by the main author of the feature. https://twitter.com/AndresFreundTec/status/10025899696161996... Postgres release 12 did not add any JIT related improvements, and as far as I know no work has been done on it on 13 either.
The traditional view that the bottleneck for query performance is overwhelmingly disk throughput, which has become slightly less true with the advent of SSDs.
I just made a very casual search of the most recently completed commitfest and I saw one entry ("JIT expression evaluation improvements") marked as "Moved to next CF" and in the upcoming one the only item planned was the one that was moved.