so 200 megabytes/second? I'm not sure what your definition of large files is, but hashing anything sizable with SHA1 is trivially CPU-bound with any modern SSD, in the absence of a processor with the sha asm extensions.
that being said, quick glance at the source suggests that awscli's s3 sync only compares files by size & timestamp, not etag, so it's not hashing anything client-side.