Speed is the first impression
Before a visitor judges your design, your copy, or your offer, they judge your speed — and they do it in the first second. If a page is still assembling itself when they arrive, a large share of people simply leave. They don't wait to see how good the content is, because they never see it.
This is brutally unfair to businesses with slow sites, because the visitor was interested enough to click. The interest was there; the loading spinner killed it. Performance optimization exists to make sure your best prospects never see that spinner.