Earlier quoted context omitted.
Not really. The downsides are mostly overblown. Plenty of category leading applications like Discord, VSCode, Slack, Figma, etc. use it quite successfully.
All of those are examples of overbloated, slow, horrible user experience apps.
Are there QT or GTK competitors crushing them?
I always hear how terrible electron apps are, but the companies picking electron seem to get traction QT or other apps don't and seem to have a good cross platform story as well.