AMP has benefits for driving discussion on web performance and collaboration, but it also has significant limitations and drawbacks. While AMP pages load faster initially due to Google's pre-rendering, regular websites optimized for performance can also load very quickly and provide a better user experience through proper branding and interactivity. Overall web performance optimization should go beyond just AMP by focusing on fundamentals like optimizing images, CSS, JavaScript, and the critical rendering path to make entire websites fast for users on all devices.