It loads much faster than VLC and it also seems faster in general. The GUI is very minimalistic and you can leave only the video itself (with the 'no-border' setting). It has a bunch of nice little features/settings, but it requires some exploration and changing config files...
I switched from VLC to mpv some years ago and never looked back. It's just better for opening random video/audio files, IMO.
For one thing, VLC on macOS has become so unreliable it's more or less unusable. Randomly won't play valid video streams, slow or completely broken seeking, and even intermittently crashes.
I switched to IINA and haven't looked back, it's incredibly good for most cases. Unfortunate that it's Mac-only software; not a multi-platform capable solution.
mpv has better support for playing videos from the web. You can paste a youtube link into vlc's "Open Network Stream..." dialogue, but because VLC doesn't use yt-dlp for this it often doesn't work at all (it presently doesn't work for me) and works with fewer websites than mpv.
Also mpv's json IPC interface is easier to use with better documentation than any of VLC's numerous remote control protocols (which aren't mentioned in the manpage, and have incomplete hand-wavy documentation spread across numerous poorly organized wiki pages.)