Other than this security vuln, the issues vs. just using postgres are:
* It is more work! Despite being a backend as a service it is much less code to just write a simple API backend for your thing both in time to do it and time to learn how to do it. Think of Firebase as being on the abstraction level of Sinatra or express and you may as well just use those. Things like Firebase and Parse etc. are more complicated. For the same reason it is more complicate to walk to work with just your arms and no legs (even though there are fewer limbs to deal with and no backend!).
* Relational is king. Not being able to do joins really sucks. Yes you need to make async calls in a loop. NoSQL is premature optimisation.
* Lots of Googlization. This means lots of weird, hard to find out clickops configuration steps to get anything working. Probably why this security flaw existed(?).
* Emulator is flakey, so for local dev you need another cloud DB, and yes all that Googlized setup RSI inducing clickops.
* I reckon it is slower than postgres at the scale of starting a project. Traditional architecture are blitz fast on modern hardware and internet. Like playing a 90s game on your laptop.
* Apparently as you scale it gets pretty pricey.
The main thing is: it actually slows you down! The whole premise is this should speed you up.