It's not any slower in the typical case where destination buffer is large enough to fit the source thing. And if that's not the case then we are most likely in a error case (either caller notices the truncation and decides to abort, or ignores the truncation and things may soon go boom), and not many people care about optimizing error paths.

Furthermore, when coders dont't have strlcpy() the alternatives are often even worse than strlcpy(): 1) They use strcpy() and have buffer overflows. 2) They use strncpy() which is slower than strlcpy() in the common (non truncating) case, and in the truncating case leave the string unterminated (thus segfault potential) 3) They use snprintf(dst, len, "%s", src); which is strictly slower than strlcpy()