It would be an unfair comparison - hardware THRUs don’t do any processing on MIDI data, that means they don’t have to wait for the entire message usually of 3 bytes in length before they can produce output. A hardware THRU simply reamplifies the incoming signal which means their latency comes only in terms of electronical signal rise and fall times introduced by a couple of electronics components, the standard THRU implementation is in the DIN-5 MIDI electrical spec:
For Midihub to do any sort of routing and processing with the incoming data, it needs to wait for the entire message to arrive before a new or same message can be sent out.
Anyway, the latency of Midihub is at the minimum limit of what is physically possible with DIN-5 MIDI and USB. 