It solves the problem IF the SSD part of the Fusion Drive is sufficiently large and if there are no huge applications and large amounts of data (e.g. photo libraries with preview caches, music libraries of 100 GB or more) on the system. In my case, there is only a 28 GB SSD blade that speeds up the Fusion Drive. I re-installed everything from scratch, and right after installing Big Sur, the boot time was indeed something like 20 seconds, but as soon as I re-installed (not from Time Machine) a number of apps like Keynote, Pages, Numbers, and iMovie from the App Store, the boot time immediately increased to more than one minute. Having re-installed everything (and I do have a rather limited number of apps!), e.g. Photoshop and Lightroom, boot time was back to over 2,5 minutes, with apps becoming really responsive only after some 3 minutes.
The whole issue seems to lie in the size of the SSD part of the Fusion Drive. My iMac 2019 5K 1TB Fusion Drive has only a 28 GB SSD blade. Catalina was vastly smaller than Big Sur (8 GB installer versus 12 GB). Big Sur installed with a number of essential apps seems to be too big to make a boot time reasonably short.
Once the system is up and running after three minutes, all apps work fast and smooth. But if I want to shut down my system, I have to take into account that I better make a cup of coffee or tea when rebooting.
Nobody knows if 11.2 will solve this problem. I fear it's not going to.