Old text word processors on my 286/386 back in the late 80s / early 90s, ran just fine. Instant everything. Only thing that was truly slow was the scanner.
I have fond memories of that, but basically the editor was a UI into a linked list with a blue screen. So not comparable to what people are being asked to do with Word and 365 today.
My personal beef with Word is that it struggles so much with long documents. Trying to read, say, a 300 page spec from 3GPP is miserable.