Too many tags in repo causes error when trying to fetch the tags via API

If there is a repo with a huge amount of tags (> 500 tags), when trying to get the tags using API v1, it will either take up a long time to fetch them or error 500 may occur.

Pagination is only available in the v2 of the API, it doesn't work on v1.

Is it possible to speed up the API resource or have the possibility to paginate the calls on v1?