Pinch to close is jerky on all iPads, even the iPad Air. It has noting to do with performance, it's just the way the animation is.
I think the switch from blurred wallpaper to unblurred is what makes it feel jerky you'll notice the switch if you do the gesture slowly, it still does this with reduce motion on.
Edit: actually this only happens with certain apps like Safari and reminders, looking at it again it looks like the biggest problem is that halfway through the animation the icons just immediately snap to their grids instead of it being one smooth consistent animation.
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