I have been under the impression that glibc implements both unique_ptr and shared_ptr (that's the one with arbitrary refcounts) using locks, but ok, if it's done with something like CMPXCHG that's still a heck of a lot slower than ordinary copying.
As for overhead, well, if an object lives for a long time and lots of references are updated or moved around, then that itself can be expensive, besides the malloc/free costs. Copying garbage collectors by comparison are simple and fast, at the expense of making your program gobble a lot more memory, limiting the language so that the gc can know where all the pointers are, and having to stop the program during gc.
Why would unique_ptr ever need a lock?
> As for overhead, well, if an object lives for a long time and lots of references are updated or moved around
If performance is important you only pass a shared_ptr if the callee needs to keep it around, otherwise just pass a plain (const) reference. You can also pass a (const) reference to the shared_ptr and then the callee can decide if they actually need to keep it. Moving shared_ptr is free, because the refcount stays the same.
But I agree that GC has higher thruput than malloc/free as most gc allocations are a single op, at the cost of higher initial memory usage and worst-case latency. That's why "scripting" languages like python / perl use refcounting as they need to start quickly and might not run for very long, whereas java / c# programs tend to be longer running.
Presumably they're looking at reference counting as an alternative to unique_ptr, and in that context the memory management overhead is already being paid.