@smarkusg
From memory, it's a very old game that's optimized for the graphics cards available at the time, and there is/was a bad interaction between the drivers and the SDL audio thread.
Homeworld does things such as draw the background image as thousands of individual quads instead of just one quad like modern games would. Even worse, those are sent to the GPU one at a time instead of in a single vertex buffer. This was triggering a CPU yield inside the RadeonHD/RX drivers very frequently. Each time that happended the high prioriry SDL audio thread would get CPU time and waste it (possibly busy-waiting for the sound card hardware).**
Removing the audio driver and rebooting would boost the game's frame-rate.
I remember reworking the driver as best as I could, which did increase the frame-rate to something a bit more sane.
There was a discussion about it
here intermingled with other stuff.
A new port using GL4ES may boost the frame-rate.
Hans
** MiniGL's anti audio stuttering "smart lock" may also have been part of the problem. The smart-lock works around sound stuttering caused by audio drivers using push-mode instead of being interrupt driven.