What you mean by efficiency ? Operation at the second? Sure it is less efficient than Postgres or of SQLite embed in your application.
However if you mean convenience and simplicity this solution may (arguably) be efficient enough.
This module sit between a "full" client-server DB, a redis instance (that doesn't provide SQL capabilities) and SQLite that is not client-server.
Being completely honest, how HN teach us, build a great technical product without showing it as soon as it provide just a tiny amount of value is not desirable.
The comment in this thread indicate that there is some interest and I got some valuable suggestions and feedback on what to develop next.