Just want to add on to this so maybe it will gain traction!
I'm running the latest version of Photoshop on macOS 11.1 on both a 2019 15 inch MBP and a 2015 15 inch MBP. The CMD+ and CMD- keystrokes work totally fine, but the trackpad zoom has a... weight to it? It just seems so laggy, as if the files are way too big for my computers to handle. (They're usually not terribly big. I work on a lot of 3x3 in, 300 dpi canvases).