Implementations have found ways to optimize transform pipelines by collapsing identity transforms, short-circuiting non-observable paths, deferring buffer allocation, or falling back to native code that does not run JavaScript at all. Deno, Bun, and Cloudflare Workers have all successfully implemented "native path" optimizations that can help eliminate much of the overhead, and Vercel's recent fast-webstreams research is working on similar optimizations for Node.js. But the optimizations themselves add significant complexity and still can't fully escape the inherently push-oriented model that TransformStream uses.
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BYOB (bring your own buffer) reads were designed to let developers reuse memory buffers when reading from streams, an important optimization intended for high-throughput scenarios. The idea is sound: instead of allocating new buffers for each chunk, you provide your own buffer and the stream fills it.