It turns out that at this rate of fixing Fallout 76, Bethesda will probably have to roll out a few petabytes worth of patches because the latest one, which weighed in at 48GB for consoles, has fixed very little of what it was supposed to.
The above analysis was performed by the guys from Digital Foundry, who tested it on PlayStation 4 and Xbox One consoles, both the Pro and X variants, neither of which are exempt from graphics issues. Dropping to 20 or 10 FPS, on Xbox One X no less, was a regular occurrence prior to the patch, although it doesn't seem to be much better now.
As you'd expect, the first location Fallout 76's testers visited was the Top of the World resort, which was a well known FPS slayer prior to the patch. Thankfully, this part seems to have been fixed by Bethesda but don't get your hopes up yet, because the game is far from a polished state.
For instance, even though PlayStation 4 has seen a marked performance improvement when prancing around the Top of the World resort, directing your gaze elsewhere reveals that Bethesda has many more GB to go. You like the view, don't you? Here's 20 FPS so you can enjoy it in all its glory.
As far as campaign performance goes, Fallout 76 is reliably hitching whenever you need that bit of performance, like when shooting enemies. Throwing grenades in midst of fighting drops the frame rates even further and makes the reticle near impossible to control. Digital Foundry pointed out that this was the case in Fallout 4 as well, which shouldn't really come as a surprise.
As Digital Foundry said, "The problem with Fallout 76 testing is that frame rates are so variable and often without clear reason", which made testing a bit difficult. In conclusion, yes - Bethesda fixed a few niggles. However, if that's what they needed a 48GB patch for, then get ready for a year worth of 48GB patches before the game can be called anything other than a Fallout 4-based cash grab.