In my physics class, we have seen experimentally that objects with lower $I$ values (like spheres) will reach the bottom of a ramp sooner and with a higher final velocity than objects with higher $I$ values (like a hoop) assuming total mass and radius are the same. However when looking at energy, I see that gravitational potential = translational KE + rotational KE. Since the sphere has a higher translational velocity, it has more translational kinetic energy. But since it’s moving faster, it must be rotating faster, and therefore have a higher $\omega$. Looking at the equation for rotational KE $= \frac{1}{2} I \omega^2$, I would assume that since $\omega$ is squared it would have a much bigger impact than that of decreasing the $I$ value.
Why does rotational kinetic energy not increase as quickly with objects that have a lower I value?