Most of these emulators go in the S-tier for me. The only one that I find a little laggy is iTerm2, but it's still a featureful terminal with great MacOS support. Also, admittedly, I haven't used Warp terminal extensively. That one has a lot of promise with its modern AI features, though. Take my ratings with a grain of salt— I'm definitely prioritizing performance above other factors.
Alacritty

Joe Wilm (individual)
https://alacritty.org/
This was my main terminal for a long time. I stopped and switched to WezTerm for undercurl and ligature support. It's heckin' fast.
- Zippy AF
- No official ligature support
- Rust
Ghostty

Mitchell Hashimoto (individual)
https://ghostty.org/
This is the newest of the bunch. It was created by Mitchell Hashimoto (the person behind Vagrant and HashiCorp) and has been hyped up— for good reason. I've been using it as my daily driver for a while now, and I love it. Check out my ghostty KB page for details on installation and configuration.
- Zippy AF
- Zig
- Ligatures (==>/!==)
- Undercurl
- Image support (with
+kitty
image protocol) - Built-in shader support
- e.g., you can make the terminal look like a CRT monitor or enable an animated cursor
- Built-in splits and tabs
iTerm2

Free Software Foundation, Inc. (company)
https://iterm2.com/
This emulator has a lot of configuration options with native MacOS support. It can feel a little laggy once you start using the faster terminals.
- Fast, but not Alacritty or Ghostty fast
- Integrates seamlessly with MacOS
- Built-in splits and tabs
Kitty

Kovid Goyal (individual)
https://sw.kovidgoyal.net/kitty/
I used Kitty for a short time, but I might have to revisit it later. It is zippy— but perhaps still not as zippy as Ghostty or Alacritty. Another cool feature is image support and multiple font sizes!
- Fast
- Built-in Neovide -like cursor animations
- Built-in image support
- Built-in splits
Warp

Warp (company)
https://www.warp.dev/
I haven't used Warp extensively, but the concept is really exciting— built-in AI helpers for coding.
- Rust
- Built-in splits
- Integrated AI tools like LLM chat
WezTerm

Wez Furlong (individual)
https://wezfurlong.org/wezterm/index.html
WezTerm was my daily driver for a long time. As a Neovim user, I love the Lua configuration. I would be using it still if Ghostty wasn't so damn fast.
- Fast, but still not Alacritty or Ghostty fast
- Rust (configured in Lua)
- Built-in splits and tabs
- Ligatures (==>/!==)
- Undercurl