This one has a standard three jaw chuck but you are right about speed.
The issue isn’t whether the chick is a three jaw chuck.
The issue is the size of the chuck.
The mortiser I have has a 3/8-24 arbor.
If you want to use it for regular drill bots, you need yo find a 1/2” or 5/8” capacity chuck with a 3/8-24 arbor.
They exist, but are way harder to find than a larger chuck like a 1/2-20 shank threaded arbor, and less accurate than a tapered arbor.
Also, the arbor size issue is way more annoying if you want to switch to a quality keyless chuck.