This is pretty much exactly the case for this algorithm. It is a very slow hash table due to the lack of locality. It seems to only have benefits at very large

This is pretty much exactly the case for this algorithm. It is a very slow hash table due to the lack of locality. It seems to only have benefits at very large size and very high load factor. At that scale, it may be practically better to use a B-tree or a radix tree over a 128-bit hash of the key.