The beauty of ZRAM is that on any modern-ish CPU it's surprisingly fast. We're talking 2-3 ms instead of 2-3 seconds ;)
I regularly use it on my Snapdragon 870 tablet (not exactly a top of the line CPU) to prevent OOM crashes (it's running an ancient kernel and the Android OOM killer basically crashes the whole thing) when running a load of tabs in Brave and a Linux environment (through Tmux) at the same time.
ZRAM won't save you if you do actually need to store and actively use more than the physical memory but if 60% of your physical memory is not actively used (think background tabs or servers that are running but not taking requests) it absolutely does wonders!
On most (web) app servers I happily leave it enabled to handle temporary spikes, memory leaks or applications that load a whole bunch of resources that they never ever use.
I'm also running it on my Kubernetes cluster. It allows me to set reasonable strict memory limits while still having the certainty that Pods can handle (short) spikes above my limit.