Nanite Performance is Not Better than Overdraw Focused LODs [TEST RESULTS]. Epic's Documentation is Dangering Optimization.

Development Platform & Builds Debugging, Optimization, & Profiling
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Updated Performance test with Lyra 5.3:
I highlighted all static objects in and disabled Nanite on them

Nanite disabled
Nanite disabled1920×1080 163 KB

Overdraw (no nanite)
Overdraw
Overdraw1920×1080 311 KB

Performance with Nanite(project default)

Nanite
Nanite1920×1080 164 KB

Turning on VSMs adds another ms with Nanite.
Ignore scalability, I have my own I use.