I’ll say both. It’s brand new, you might need to run it in a while. But check the lube, it could be completely dry OR as is often the case, there’s way too much grease in the gears - too much can be just as bad as none.
At the same time, motor surge can also be because of badly adjusted back EMF settings. As the decoder tries to speed the motor up, it goes too far, and then tries to slow it down - and goes too far, makike a surge back and forth. Not sure what decodrs they are using in those, and what adjustments are available to help adjust this, but definitely give it some run time first.
I agree with Randy my last new Walthers GP30 had so much white grease stuffed in the bottom of the trucks it varied the speed as much 11 scale miles per hour per lap.
The plastic cover on the bottom of the Genesis locos are very easy to remove. Just make sure it is upside down and be carefull of all the detail parts. I use an old Bowser cradle.
Try loosening the four motor mount screws. I’ve seen a couple cases where what you describe has happened when the motor cradle was screwed down tight causing the cradle to put a slight bind on the motor.