It's great for development environments or scheduled jobs, the 15 second start up time limits it for most other things I'd imagine. Is it still minimum cost of ~45/month for the lowest instance? I guess this will help that but it would be great if it was priced closer to V1.
The 15 seconds start up time limits the utility for production workloads indeed, specifically for multi-tenant apps looking to provide very strong per-tenant isolation. If you need Instant Postgres, check out Neon: https://neon.tech/demos/instant-postgres.
Finally true serverless. But how will it handle like open connections like a pool and no queries sent to it? eg Container 24/7 available but DB should spin up then needed.