Rather, what will win is a terminal that internally builds an efficient, symbolic representation of what is on the display, rather than a pixel representation with all the font glyph, and which efficiently sychronizes that symbolic representation to the graphical canvas, skipping intermediate updates when the abstract display is changing too fast.

That’s already happening I think. Newer terminals redraw at a fixed rate equal to the display refresh rate, usually 60Hz. But if there are more than 60 new characters being printed per second, some of these intermediate states are never rendered on screen.