I'm not an expert here, but I'll try to share what little I know. I've seen various figures out there about the specs of the electric motor and genset, but let's just assume this is accurate:
Electric Motor: 100 kW
Genset: 53kW
According to that, yes, it is conceivable that while on genset power, performance will be significantly weaker. But consider this: You will rarely go above 53kW when driving. That means while you are below 53kW (or not accelerating), the batteries will be charging (and from a 30% charge at that). You will also get additional charge from regenerative braking as well (when slowing). So if you do need occasional extra performance (even with the genset active), the batteries are still there, and are willing to provide what they have (to a point).
So, yes, the Volt will still have performance even when the genset is active. But you probably can't expect the Volt to deliver peak performance constantly.