Project is dead and has a direct migration available
The problem
neofetch has been archived with the last release in 2020, four years ago.
As such, neofetch is, for example, unable to determine WM vs Wayland compositor, differentiate Flatpak system vs user, or parse modern hardware - for example my AMD iGPU:

neofetch 0.24s user 0.24s system 94% cpu 0.511 total
The solutions
hyfetch has effectively picked up the shellcode base after neofetch, though it's partially written in Rust now, yet the neofetch profile available in the base install manages to be 4x slower than the original neofetch on my system.
hyfetch, which needs initial configuration unlike the other two, was configured by just mashing enter for the following example:

hyfetch -b neofetch 0.91s user 1.07s system 93% cpu 2.123 total
hyfetch 0.05s user 0.03s system 95% cpu 0.077 total
Meanwhile, fastfetch, which has a neofetch profile available in the base install, resembles the default profile better and as such qualifies as a direct migration, has support for the modern software stack and hardware, looks the same and requires no init:

fastfetch -c neofetch 0.00s user 0.00s system 49% cpu 0.009 total
fastfetch 0.00s user 0.01s system 56% cpu 0.009 total
fastfetch is Rust, while neofetch is shellcode. Anyone who wants to grab the shellcode can still use the GitHub without the need for Arch to package it.
Some more reasons for using fastfetch over neofetch are documented upstream.
Conclusion
neofetch runs about 50x slower than fastfetch, which really shows on slower system.
hyfetch runs about 200x slower than fastfetch, or 4x slower than neofetch, when comparing neofetch profiles.
hyfetch runs 5x slower than fastfetch when comparing base profiles.
hyfetch requires init, looks different than neofetch by default(unless launched through neowofetch instead of hyfetch), and is slower than fastfetch.
Considering everything, neofetch should, in my opinion, be retired, and existing users migrated to fastfetch.
Base fastfetch profile(hyfetch looks the same sans logo colors):
