In the update videos posted on the Ladybird YouTube channel it's said that they have exhausted most of the low hanging fruit in terms of correctness.
Browsers and the web standard have a very long tail of odd behavior that you need to implement.
I could be wrong, but if I had to guess they'll stall at a point where it's just good enough that some people will make it work, but it's not really useful for general use.
They're prioritizing correctness to the spec over speed and are still 'officially' in pre-alpha. It's still to be determined how well they can bridge the gap there.
For casual web browsing it's plenty fast enough already to do a lot of things, but they're a relatively small team fighting against decades of optimization.
What? No one is expecting Ladybird to be fast at this stage. No one is claiming that it is. Ladybird is competitive because of the speed of which it is improving.
They are already quite competitive.