(Found via auditing the performance)
In rendering a page in client that uses Wikidata with lua, there's 1823 calls to memcached from Wikibase\Lib\Store\CachingPropertyInfoLookup::getPropertyInfoFromWANCache. This means every time it needs a property info, it makes a call over network to mcrouter/memcached. The client page definitely doesn't use 1832 different properties of Wikidata. This can be a great performance boost by keeping the loaded properties as a class attribute and short circuit lookups.