The delete performance will probably be similar, but standard partitions in postgres have a bunch of current limitations.
For example, the insert pipeline is still quite a bit slower, partition creation is still manual, can't do as good constraint exclusion at query time, can't do certain query optimizations we've built in, can't support user-defined triggers, can't handle UPSERTs, doesn't support various constraints, can't do VACUUMing across the hierarchy, etc.
We plan to write a blog post comparing against PG10 partitioning in the future to expand on this a bit.
All this said, we do love Postgres and realize that it's trying to provide a more general-purpose solution, so don't mean this as criticism. We can just build something more targeted at the time-series problem.
https://blog.timescale.com/timescaledb-vs-6a696248104e
tl;dr: 20x higher inserts at scale, faster queries, 2000x faster deletes, more time-oriented analytical features