The issue isn't the NAT itself, it's the inhibition of P2P connections (to a further extend, spontaneous queries for distributed routing technologies like seen

The issue isn't the NAT itself, it's the inhibition of P2P connections (to a further extend, spontaneous queries for distributed routing technologies like seen in IPFS, but those are just preventing full decentralization). Once you have to bounce the data through a hosted proxy, you're forcing no less than 10 ms on to the users (of course there are rare exceptions for users really close to your proxy).