I came here to write the same. svgcleaner[1] will reduce it from 8.4KiB to 1.3Ki...

I came here to write the same. svgcleaner[1] will reduce it from 8.4KiB to 1.3KiB (compressed with zopfli). Which is 85% smaller.

And a manually crafted one is just 477B. And 261B compressed. Which is just 3% of the original.

Now we can talk about bloatedness.

  <svg width="601" height="751" xmlns="http://www.w3.org/2000/svg">
    <rect width="600" height="750" rx="38" fill="white" stroke="black"/>
    <rect x="16" y="16" width="568" height="718" rx="24" fill="none" stroke="black" stroke-width="15"/>
    <text text-anchor="middle" font-family="Arial" font-size="150" font-weight="bold">
        <tspan x="300" y="200">FPS</tspan><tspan x="300" y="350">LIMIT</tspan><tspan x="300" y="660" font-size="350">15</tspan>
    </text>
  </svg>

[1]: https://github.com/RazrFalcon/svgcleaner