Vmax 150 slipping

Hey guys, found your forum when researching an issue with my motor. Hoping someone here can help. So I have a 2010 Yamaha vmax 150 on a 21' majek. Prior to today, I had an issue with my perko switch, but everything else was great. Replaced the perko today and she fired right up on both batteries. Backed her out of the boat slip with no issues. Engaged forward with no issues. However, when I tried to get on it, she kept acting like she was cavitating. I tried stopping, reverse, trimming up and down, etc but nothing helped. Every time I tried to go on it hard the RPMs would come up with no speed. Is my prop slipping? Any other ideas?