We haven't benchmarked TimescaleDB, so I can't say. Results tend to vary heavily by workload, too.
What I can say is that the research at the heart of Materialize (https://dl.acm.org/doi/10.1145/2517349.2522738) allows us to efficiently maintain computations that are more complex than what a lot of other IVM systems can handle.
Your best bet is to run your own benchmark of both systems using data that's representative of your workload. We offer a free seven day playground if you'd like to run such a benchmark: https://console.materialize.com/account/sign-up
We also have a community Slack where a number of Materialize employees hang out and answer questions: http://materialize.com/s/chat
