I use it as my DNS server, so it's working fine, but that's a good idea. Unfortunately, my home router intercepts all DNS queries and reroutes them to its own dnsmasq (which forwards to 1.1.1.1), so I can't do a proper benchmark unless I disable it.
I do wonder what's going on, but here's my traceroute to 1.1.1.1:
Interesting. Looks like I have the same thing going on at home, because I have 2.8 ms to 1.0.0.1 and 0.5 ms (!) to 1.1.1.1: https://i.imgur.com/5qpMbuh.png. Both answer to DNS queries, though.
I do wonder what's going on, but here's my traceroute to 1.1.1.1:
https://www.pastery.net/zppyhe/
EDIT: I disabled my DNS interception and it looks like I do, indeed, get 1 ms latency:
https://www.pastery.net/bykmcp/