Embedded Linux is great, but if you’re trying to do something like read from a high-speed ADC then the only way to do it is with an FPGA. The FPGA reads from the ADC at precise intervals and buffers the data. The embedded Linux system can then periodically read the buffer with all of the jitter and latencies that come with using Linux.
Virtually every Linux-based software defined radio, oscilloscope, and logic analyzer work on this architecture. For lower speeds you can get away with a microcontroller running bare metal code to do the buffering, but the high speed stuff enters the domain of FPGAs.
You just have the peripheral DMA and flag/interrupt when done. If you need an "immediate" reaction you use a DSP. There are only so many useful calculations you can do with a single input stream and DSP can handle them.
SBC/Linux -> SBC/Real-time OS -> General Purpose MCU -> Specialized MCU (Parallax Propeller, for example) -> FPGA/CPLD/DSP
With perhaps some additions to the diagram to account for bit-banging vs actual drivers, speeds where some portion of the left side just isn't fast enough to even kind-of work, slow clock MCUs vs fast clock MCUs, etc.
With an FPGA and external DDS chips, this is difficult to do just because of mismatches in PCB trace lengths and/or small temperature fluctuations. With a microcontroller, it is nearly impossible to do even when using DMA because of memory bus contention.
So it's not always raw speed, per se, but anything that's sensitive to timing. Linux on a PI can be busy doing something else and miss a critical time to have output (or read) something. An FPGA based solution is working with known loop/io/etc times that don't change.
Lowrisc.org also has a similar plan for what they call "minion cores" in their RISCV based product, whenever that happens. Some NXP processors also have something called an "eTPU" that seems similar.
https://intellijel.com/shop/eurorack/cylonix-rainmaker/
In this module, the FPGA's ability to do LOTS of computations in parallel is used to produce 16 taps of pitch-shiftable delay along with a 64-tap comb filter.
At normal speeds, an image can take 10-15 ms to clock out of the sensor. At that point, there's little reason not to run your image processing on a $3 CPU rather than $$$ FPGA because what's another < 30ms at that point and what would need a reaction that quick anyway?