In my experience (not professional, encoding various files for archiving or sharing), AV1 perform quite well for low bitrate situation/streaming, and the encoder is reasonably fast (not as fast as h264 ofc, but that's decades of work on it).

But for higher quality encoding, I personally found that h265/HVEC almost always beat it, with similar encoding time.

As for AV2, I just hope that we get a good open-source encoder.