Earlier quoted context omitted.
atomics aren't free even without contention. the slogan of the language is "you don't pay for what you don't use", and it's really not great that there's no non atomic refcount in the standard. the fact that it is default atomic has also lead people to assume guarantees that it doesn't provide, which was trivially predictable when the standard first introduced it.
OP specifically mentioned contention, though -- not marginally higher cost of atomic inc/dec vs plain inc/dec. > For our use case, we in fact do not use std::shared_ptr in our implementation, but instead a single-threaded shared_ptr-like class that has no atomics (to avoid cross-core contention). A single-threaded program will not have cross-core contention whether it uses std::atomic refcounts or plain integer refco…
Note that the difference is not so marginal, and the difference is not just in hardware instructions as the non-atomic operations generally allow for more optimizations by the compiler.