It seems so.
I have re-enabled hardware acceleration, but they really should not have removed Opera Turbo. That was a very important feature to me, and when I have Opera on Battery Power with Hardware acceleration enabled, video playback is very stuttery. I am probably going to get out of Opera and use Chrome now.
I am here to update my previous post. I have this extension called Speed-up Browsing, that works just as good as Opera Turbo. I currently have several tabs open in Opera and no performance hit so far.