How strange, took at least 30s to load on my iPhone 12 Pro Max with Safari but it was smooth to pan and zoom after. Which is way better than my 16 core 64GB RAM Windows machine where both Chrome and Edge gave up very quickly, with a "broken thumbnail" icon.

Probably because they're based on the same engine.

The strangeness was that 2 iPhones from the same generation would exhibit such different performance behaviors, and in parallel the irony that a desktop browser (engine irrelevant) on a device with cutting edge performance can't do what a phone does.

Same, right up until I zoomed in and waited for Safari to produce a higher resolution render.

Partially zoomed in was fine, but zooming to maximum fidelity resulted in the tab crashing (it was completely responsive until the crash). Looks like Safari does some pretty smart progressive rendering, but forcing it to render the image at full resolution (by zooming in) causes the render to get OOMed or similar.

I remember that years ago (mobile) Safari would aggressively use GPU layers and crash if you ran out of GPU memory. Maybe that's still happening?

Preview on a mac handles the file fine.