I don't get it. iCloud has its faults but I rather like it a lot.

What's better about Panic Sync? To me it seems it's actually much worse than the simple to use (and never having to think about it) iCloud sync. Its also free and isn't tied to Panic. Panic sync on the other hand is is tied to Panic app so you will likely have to make a new account so it actually adds more hassle to the end user with no real extra features. Something great indeed!