I'm concerned about this feature policy.
As you are aware, the set of animations that can be run on the compositor varies by engine and frequently changes. WebKit, I believe, can animate clip-path on the compositor. Gecko is working on animating background-color on the compositor. However, Gecko does not yet run filter animations on the compositor. Under the lowest common denominator approach, engines will be required to disable animations even in cases where they would run on the compositor (e.g. Blink would be required to disable filter animations).
Furthermore, even within a given engine, the conditions required for animating on the compositor can be subtle. For example, in Gecko transform animations on SVG elements can be run on the compositor (which I believe is not true of other engines, or was not previously) but Gecko won't run that animation on the compositor if the SVG element has a rendering observer (e.g. is used in -moz-element or a mask). As a result, the feature policy cannot reliably guarantee smooth/efficient animations.
"Problems with this, and a better solution"[1] proposes adding syntax for specifying the allowed properties which addresses these concerns to some extent, but raises others.
For example, in my testing I see that my browser can animate 'transform' and 'clip-path' smoothly but not 'border-color', so I set allow="animations(transform,clip-path)". However, on other browsers animating 'clip-path' is slow so the feature policy is ineffective. Furthermore, it puts the burden on the maintainer of the page to keep checking what properties can be animated smoothly so that, if in one year's time all browsers can animate 'border-color' smoothly, they must remember to update the string.
It's a tricky problem but I can't think of a good way to approach such a time-sensitive and engine-sensitive performance issue other than a feature policy that simply restricts all declarative animations.
[1]
https://github.com/WICG/feature-policy/blob/master/policies/animations.md#problems-with-this-and-a-better-solution