So it may just be an underpowered or worn out imported piece of junk but personally I might check a few things before tossing it in the trash bin. You said it had a capacitor do you know if it's just one or two (or unlikely a combined start/run cap)? I'd start there. If you have another similar sized motor try swapping the cap(s) and see if there is any improvement. It probably just has a start cap and if it's starting OK the cap is probably good but caps are known to cause problems and are relatively inexpensive to replace. Start cap can be fine but run cap may be bad, if it has one.
How is motor turning by hand? Freely or with any resistance? Any noticeable play in shaft either in/out or up/down. Could be bad bearings. Esp if they are heating up and seizing while running. Could definitely add enough resistance to slow down or stop an inexpensive motor.
May just need to be taken apart and cleaned up. Could be loaded with grinding dust or metal shavings from prior use. If you pull it apart eyeball condition of rotor and any windings. Do magnets still feel strong when you remove rotor? Are they still attached to housing?
Also check wiring and switch. Are you running with a long thin extension cord? If so plug it into wall directly and see if you get more power out of it. Is motor getting unusually hot while running?
Excellent advice. I was also thinking I would pop it open and see what's inside, give it a cleanup, check the cord and electrical connections, etc. Just do some quick checks, lube the bearings, inspect for play - things that don't take long to check and won't be that big of deal to fix.
You can clean up the rotor on a lathe and test the windings - but that probably is more effort than it's worth. Up to you of course on how you do the time vs money equation, but this isn't a heavy duty vintage grinder.
It might just be a wimpy grinder - but I don't see why you'd start with that assumption.