Hi there. You're right, true curves would be the best way to solve this, and they don't exist in the platform yet. They are however being actively worked on, so you can expect them soon. As for solving this right now, the code you posted seems pretty reasonable to me, it's a shame it's not performing to your needs. To improve performance, we'd need to find a way to avoid calling MoveGeodetic in a loop like that. I'm not quite sure about your use case, or how you are/want to display these geometries, but I wonder if constructing your geometries directly in an appropriate spatial reference might work, using one of the Builder types?
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