The alternative is to keep using ElasticSearch 1.6 (it is also possible that ElasticSearch 2.x is not too slow yet). There is also a chance that standard search in ElasticSearch 5.4 is still fast. We would just have to use older ElasticSearch 1.6 for percolator queries.
There is also some promising fork: https://github.com/meltwater/elasticsearch-batch-percolator They promise 1000x faster percolator. But we did not find out yet if it supports our case (elasticsearch-batch-percolator has some limitations about queries it can process).
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There is also a chance that standard search in ElasticSearch 5.4 is still fast.
We would just have to use older ElasticSearch 1.6 for percolator queries.
There is also some promising fork: https://github.com/meltwater/elasticsearch-batch-percolator
They promise 1000x faster percolator.
But we did not find out yet if it supports our case (elasticsearch-batch-percolator has some limitations about queries it can process).