[MC-191659] Server performance issues since 1.16.1

Moderator Note

If you are experiencing this issue, please provide a debug report, both the .txt and .zip file. Also, please have a look at the server's resource usage and let us know if there is anything out of the ordinary, and also have a look at the server console.

This kind of lags hard to replicate on absolutely fresh servers as its generally okay for the first few hours in fresh worlds, however over time they do seem to grind to a crippling halt compared to their 1.15.2 counterparts as you progress into the game using the Multiplayer server software.

I've got a copy of the debug report for one of these servers however if you need more instances of this happening I have a large and forever coming list of reports on varying hardware.

/debug results
https://pastebin.com/Q6CDq69w

Any insight into this issue would be greatly appreciated

Notes: id 345660