This one seems a bit misleading. Simply switching the default to e.g. a symbol or constant-defined string makes both versions perform essentially identically (the argument version is actually slightly faster).
The difference in the current version is (AFAIK) exclusively due to the time taken to allocate the string (which is elided in the block version). This makes the displayed time comparison quite misleading (at least from my perspective), as the ratio can be increased/decreased at will be changing the runtime of the default expression.
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