I heard about #embed, but I didn't hear about std::embed before. After looking at the proposal, to me it does look a lot better than #embed, because reading binary data and converting it to text, only to then convert it to binary again seems needlessly complex and wasteful. I also don't like that it extends the preprocessor, when IMHO the preprocessor should at worst be left as is, and at best be slowly deprecated in favour of features which compose well with C proper.
Going beyond the gut reaction and moving on to hard data, as you can expect from this design, std::embed of course is faster during compilation than #embed for bigger files (comparable for moderately-sized files, and a bit slower for tiny files).
I'm not a huge fan of C++, but the fact that C++ removed trigraphs in C++17 and that it's generally adding features replacing the preprocessor scores a point with me.
[1]: <https://www.open-std.org/jtc1/sc22/wg21/docs/papers/2020/p10...>