tl;dr: I'm on PC. Loading in other player/NPC character models freezes game until it's done (about a second... each). So Lobby is ~3fps usually.
When you're standing on the ship, players are loading in and out all of the time. I've noticed that when character models first arrive, they're basically shadow boxes and gradually load in the detail. What's unacceptable for an 8 year old game is that when these graphics finally load in the true character model, the game freezes for about a second to render it. This happens for every character. That means if I'm running around a stage, smooth and gorgeous. But if I encounter other players, frame rate massive stutters. Load back into the lobby to turn in quests? I'm running around at 3 fps until every single player and NPC has finished rendering.
This is a major performance problem! Rendering the rest of the game should have higher priority than loading in a single character model. Update the rendering commands to be async since there's already a low-res placeholder model. Sure, I could reduce the number/quality of player models that I see, but then I lose out on all the amazing looking characters, which is the whole point of making money off of a cosmetic system.
I get that there's bigger issues at the moment where people can't play (fix those) but this issue shouldn't exist for such an old game on modern hardware.