The Electric SQL sync engine has been released in beta, focusing on read-path synchronization from Postgres to local applications and services without write-path synchronization. It emphasizes the use of commodity CDNs to alleviate server load and offers a unique 'shapes' concept for syncing data at a table level. However, the company faces challenges in establishing a sustainable business model while navigating the complexities of open source versus proprietary services. The product's current limitations include support for only read synchronization, raising questions about its value for SaaS applications where private data is involved. Competitors like Ably LiveSync follow a different approach by syncing data from an outbox table in real time, which may address some of the limitations posed by Electric's method. Future developments could involve multi-table sync but face inherent complexities within the Postgres replication protocol.