The biggest downside of Electron (or Cordova/Capacitor for mobile apps) is not necessarily performance (as proven by VSCode), but the non-standard implementation of UI controls.
For example, if I change some accessibility settings on the OS level, all UI elements in all apps implementing truly native UI components would inherit the OS-level settings. The toggle button on iOS could be set to have an I and an O for the ON and OFF state. A web-based app would not respect that setting.
So, if we talk about native, the most important part is OS-level integration of the UI. I'm not sure if Flutter really is an alternative, if the only thing you get is a bit less memory consumption and a smaller download size.
Please correct me if I'm wrong.