I think we could improve performance by cutting out the extra post-meta lookup by storing the option json_encoded to the post_content. @thomasgriffin wrote an excellent post exploring this very idea: https://thomasgriffin.io/wordpress-performance-outside-box-handling-retrieving-data/
I understand that the post_id is cached, so it's possible that there is only one lookup, so we may only be replacing a lookup in the post-meta table to a lookup in the posts table, but according to Thomas' article, that one lookup would be significantly more performant.