Launchpad is an easy gesture with the trackpad (pinch with thumb and three fingers), then type to filter and return to launch. I got used to it for stuff I don't keep in the dock (which is a lot, since I have the dock on the side and only a few things in it).

I suppose Spotlight is OK as a substitute: COMMAND-SPACE, then type to filter and return to launch. It's a little more clunky (as the search results take a few milliseconds to be assembled) but it'll work.

What feels breaking there is when you pinch to open launchpad you are not on home row, so typing to filter is inferior to swiping and clicking large targets.

Cmd+space to open spotlight already worked and typing was the best option for that use case.

I do like the new spotlight experience but this feels like losing a gesture, and it does not spark joy scrolling through the app list.

I just tried it. The gesture you mentioned now opens the spotlight application search and there is no delay.