I'm not sure what the state of terminals is on other platforms, but on macOS iTerm2 is excellent - having every feature under the sun and very good performance. If performance is a bottleneck then Alacritty is even faster, but I've never felt performance limited in iTerm.
This makes me skeptical about new non-native terminals. Usually the pitch is faster development so more features, but iTerm2 already being feature complete makes this unnecessary, and this isn't exactly a fast moving ecosystem. UX also isn't something that can really be competed on for a terminal app as the UX is typically dictated by the shell, tool, tmux, etc. By being non-native they also lose a significant performance advantage, even if some parts are ported to native code.
So while I think Electron makes sense for a lot of apps, I'm not convinced that it's got "product-market fit" for terminals.
This makes me skeptical about new non-native terminals. Usually the pitch is faster development so more features, but iTerm2 already being feature complete makes this unnecessary, and this isn't exactly a fast moving ecosystem. UX also isn't something that can really be competed on for a terminal app as the UX is typically dictated by the shell, tool, tmux, etc. By being non-native they also lose a significant performance advantage, even if some parts are ported to native code.
So while I think Electron makes sense for a lot of apps, I'm not convinced that it's got "product-market fit" for terminals.