Plus, it is an order of a magnitude faster than Make. All in all, I don't agree with the fact that it's syntax is similar to Make. Well for one thing it has legible special variable names like 'out' and 'dep'.
So yes, while it is a low level build system, it is an improvement over Make in terms of syntax and speed.
Make is rarely a big bottleneck, except in very pathologically written projects, and when doing incremental builds. I think the main problem with big make setups is recursive make, which prevents it from having a global view on the project, and forces the main make to execute many sub-makes recursively, all of which has overhead.
Eg, if you have src/lib, and src/bin, and the src/bin project depends on the src/lib library, then in self-contained, recursively invoked makefiles (or anything else), you won't get a correct behavior when a header in the library changes.
It even seems to copy make's syntax, which IMO is a missed opportunity. One of the issues with Make is that the syntax is clever until you need to invoke multiple lines of shell script, like a loop. Then the tab-based cleverness becomes a pain.