Executing git lfs track in a large repository can be very slow. It takes >30s to run git lfs track in a repository with 31k files under version control and > 600k files in the same folder (mostly ignored in .gitignore) on modern hardware (most recent MacBook Pro at time of writing).
Being in itself an issue, it makes the usage of the popular tool Sourcetree unusable as it will run a git lfs track after every staging action.