It is basically a direct replacement for the experimental software that necessitated my university to support Windows 3.1 VMs in their psych lab, so this is a group that likely can't afford Qualtrics. This replaces a host of bespoke, free, but unmaintainable software in university labs.

From personal experience as a cognitive psychologist, I have found it prohibitively complicated (albeit possible) to implement randomly counterbalanced experiments in Qualtrics. Stimuli sampling and reaction time measurement are particularly hard to implement (unless they've added more functionality recently).

All three of these pieces of functionality are required for many common paradigms in experimental psychology.

Qualtrics is designed for surveys.

PsyToolkit is designed for experiments.

I believe this is more along the lines of testing attention span, memory and other experiments used to measure cognitive performance.