That seems like it would have exactly the same problem. The problem is that EBS volumes load very inefficiently from snapshots. (They’re also unnecessarily expensive: you pay for (number of instances times size) despite the fact that what you actually want is for each instance to read exactly the same data.)

Fundamentally, EBS volumes are designed to work more or less like actual disks, whereas modern scaled workloads want something closer to net-booted diskless machines.