@JRindt You are of course right. Godlameroso will surely know that very well too, and although his analogy is maybe a bit oversimplified I do think conceptually it is probably correct.
Personally I imagine putting the Merc in a windtunnel, at a given jaw-angle and with a set steering angle. Now turn the fan on and adjust flow to 83 m/s (300km/h), then continually reduce fan speed. As a non-aerodynamicist I'd imagine that at a certain low speed, flow would start to separate from certain surfaces. Vortices would start to collapse.
Now put the Mclaren in that same windtunnel and repeat the process, starting with a high air speed and continually reducing it. The Mclaren would likely run into separation and collapsing vortices issues earlier, i.e. at a higher speed.
So while both cars might perform well at high speed, it should certainly be possible that one car is significantly better at reduced speed aerodynamically.
Adding to this train of thought: Red Bull used to be supreme in slow speed corners. Certainly before the new front wing regulations of 2019. They had their concept figured out pretty well. Yet in 2019 they struggled with rear stability. They admitted to having issues with cross-winds specifically. Especially so in the early races, Australia and Bahrain. Putting the RB15 in that imaginary wind tunnel, it might've performed very similarly to the Mercedes. Yet when another factor (cross winds) was introduced the car suffered, and might've performed even worse than the Mclaren at low speeds.
In my mind this is where a lot of the top teams brilliance lies: creating aerodynamic structures & surfaces what aren't prone to collapse when affected by prime (flow) or outer parameters.
That said, JRindt certainly has a point too that at low speeds it's going to be a lot more about suspension as well. Certainly if you extent that term to include the tires, which James Allison recently said to have been Mercedes' main strength in 2019.