Text+ renders at 2 frames per second

Am I doing something wrong? Anything involving Text+ renders at 1-2 frames per second whereas graded Pocket6K raw material blazes through at 50fps?

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Text+ is part of the Fusion engine. Fusion being a generic compositor where you can build your own tools is still mostly CPU bound for many of it's built-in tools. This is the opposite of for example Apple Motion which uses the GPU but only has the specific tools it comes with (or plugins).

2 fps sounds low but it all depends on what you're doing. Many times it seems to be an issue with cached files, if your disks aren't able to play your cache files with the configured cache codec at full speed. If that's the case, change the cache codec, or, if it's a very simple text you can likely disable Render Cache Fusion Output on the clip (right-click on the clip in the Resolve timeline). If this improves playback we know the issue is disk throughput.

Another important aspect if it's a big text frame or if it uses demanding settings is to make sure you only render a single text frame instead of re-rendering on every frame. There are many ways to accomplish this, one is to go to the Fusion page and find the Text+ clip. Add a TimeSpeed node between the existing Template and MediaOut nodes. Set Speed to 0.0. Unless it's an animation of course. But you can still move the text around after the TimeSpeed node if you want.

…only render a single text frame instead of re-rendering on every frame.

If this happens when there is no actual animation on text it is a rather blunt caching logic fail which shouldn’t happen if there is any reasonable caching at all.

I suppose it might have to do with the legacy of Fusion being used in render farms where you rarely rendered two frames in a row on the same CPU.

Before script hits the farm it must be worked on, and main purpose of caching is to make script workable for artist.