Project Neo extremely laggy

Video recording below is in Chrome, as you can see it barely works. In Edge the experience improves, but still not like in the video demos you can find online. I have a very decent PC, they exceed the Project Neo requirements. Attaching the list of specs:

AMD Ryzen 9 5900X 12-Core Processor

64.0GB Dual-Channel DDR4 @ 1583MHz

4089MB NVIDIA GeForce RTX 4070 Ti (MSI)

1863GB Samsung SSD 990 PRO 2TB