Yes, going from HTTP2 to HTTP 1.1 degrades performance, primarily due to protocol-imposed transport conversions. For example, you lose the following transport optimizations:
- Single connection
- Request/response multiplexing
- Header compression
Additionally, as Michal mentioned, HTTP 1.1 messages are textual while HTTP2 messages are binary.
HTTP2 multiplexes requests and responses over a single connection. However, HTTP 1.1 only affords persistent connections and request/response pipelining, which is not even comparable. For example, pipelining forces a FIFO order of message exchanges, which causes blocking.
To achieve any similar throughput levels, the proxy will have to open a connection pool to each backend. Those pools could be large or small, but considering resource allocations, TCP handshakes, TLS handshakes, etc., per connection and you start to get the idea of how much overhead we're talking about.
Measure the difference between "throughput in" on cache hits and "throughput out" on cache misses, e.g. "protocol conversion throughput penalty" is ~23 tps. (You should also know your average cache miss penalty in terms of time.)
Key metrics
- Throughput in versus throughput out
- Average cache miss penalty
- Cache hit and cache miss ratios
Unless your cache miss ratio is high, I wouldn't worry about this.