Luckily they added a skip cutscene option so you don't have to go through all that anymore.I found a video showing an egg being hatched:
This confirms that there is still a 20 second long cutscene for every egg that hatches. So even eggs require fewer steps to hatch (someone estimated 15 seconds of overworld movement per egg), you're still spending roughly 50% of your total time watching cutscenes instead of gaining steps.