This does seem to have some advantages on Toolset simplicity wise in creating forms etc, I wondered if anyone has views or information on this subject?
I'm not that familiar with Spectra to be able to say anything very insightful.
It's not exactly comparable to Toolset inasmuch as it is a page builder (or, more accurately perhaps, a block library, that uses the built-in block editor "page builder"). I don't know that its form capabilities are full-featured, i.e. being able to publish content from the front end with custom fields and taxonomies etc.
It doesn't include anything like Views for creating dynamic lists of grids of content with filters and search, etc..
So it's not really and apples for apples comparison.