I can't tell some apart, but because they've got a different colour in-between, it makes it easier to jump between start and end of expressions. Being able to box blocks in my head faster.
That being said, I always have to tweak accessibility settings anyway. Change of font, change of size. Having to toggle off rainbow as well doesn't seem to really add to the large list of things.
Panic's "Nova" does this. It lets you pick your palette for the parenthesis from about 30 choices. It also adds vertical lines along the left edge to show indentation level and lets you choose from the same palettes. There's three at the bottom of both palette lists designed for protanopia/deuteranopia/tritanopia.
since it take me effort to actually parse the colors, this is a constant distraction.
so I can read monochrome text just fine, but multi-colored text really slows me down.