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That's certainly not the reason.

There are many really good Electron applications, Visual Studio Code being one of them.

Visual Studio Code is literally the only good Electron application, the rare exception that proves the rule.

GitKraken, Insomnia, Postman, Mongo Compass, Mingo, Mockoon, Notion (yes it's slow AF to load, but that's not due to electron), LosslessCut, Gitify