Performance Metrics
Google Lighthouse is an open source tool that can perform a variety of website audits. In this test, all that changed between the before and after run is turning on the OEmbed Lazyload module. The site that the metric was ran on was a minimally configured Standard profile installation with the Bartik theme.
Lighthouse test with core oembed formatter
Notably, the Time to Interactive, 10.5 seconds and Total Blocking Time, 1670 milliseconds have some room for improvement.

Lighthouse test with oembed lazyload formatter
After enabling the module, Time to Interactive fell to 1.7 seconds and Total Blocking Time fell to 10ms.

Important Disclaimer
Performance benchmarks are notoriously difficult to get right. This is only a single test, which may fail to tell the whole story for every scenario. Do you have any metrics to share?
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