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Hey yall,
I am pondering on this a lot. Should I go ahead and custom-build my own comment section or just use something like wpdiscuz ? I am worried mostly about site speed here and is it too spammy to have a lot of plugins(I usually use 1-2 plugins when building websites)
A following question would be should i build my own registration forms etc.. or just again use a plugin? What do you prefer?

You can use formidable forms to create both forms and comments, and a lot of other things as well. It’s and extremely versatile platform and it is also better for performance than most form plugins.
https://formidableforms.com/knowledgebase/how-to-set-up-comments/
If you have the time and ability, it’s best to do them yourself because that’s only way you will have full control over the setup. Otherwise, it’s okay to use of the several fantastic ready-made options.
By the way, WordPress native comments are pretty decent unless you specifically want “engagement” features like upvotes and stuff.
i’d build on top of the native WP comments. the comment meta allows things like voting and ratings and whatnot. ecommerce plugins use them for reviews.