RP2040 is a bitbanging monster with 8x PIO cores operating at clock frequency. RP2040 can even bitbang DVI easily. It can output nearly 4 Gbps at the nominal 125 MHz frequency.
While a great chip ESP32 doesn't come close matching RP2040 PIO's power in this aspect.
Yes RO2040 is very good in that regard. It is often hard to gauge from processor clock how fast it will toggle its pins. Example PI4 - I do not think I was able to get more than 5MHz from its GPIOs and this is 4x GHz class processor.
While a great chip ESP32 doesn't come close matching RP2040 PIO's power in this aspect.