This is exactly what I've always thought about electric cars. In this sense there is an advantage to them in that maxmium torque is available at zero speed.
I think, that this advantage is overstated in the context of a race car/series.
How often do you start from "zero speed"/need maximum torque at "zero speed" during a normal race?
(not accounting for spins etc. and during pitstops, the max. possible acceleration is limited by the pitspeed limit, so not much to gain there either)
There is no question, that this is the "strong suit" for an EV, but I think this advantage is not that significant for the overall performance in a race.
As longer the race, as less significant this (start performance) will become.
This "demonstrator" vehicle (or whatever you want to call it), looks close to an F3 car, as far as the overall appearance is concerned. They claim general performance on par with an F3 car, which is doable, allowed perhaps for a shorter period of time. Form the news/infos that is floating around it seems, that they look for a 4x 15 min race format for these cars.
which makes it similar to the format in which the "Trophy Andros" ice racing series is run, where they have a category for "electric cars" since some years.
In fact, an Electric car won the series outright, before they split the categories into a "petrol" and "electric" class.
I would not get too hung up and a comparison to current F1, and compare the cars to the performance of current F1 cars.
There are other aspects which, if they work out (and that remains to be seen), could make this and interesting exercise.
As far as I understand it, they plan to run the series "downtown" in metropol cities around the world, sort of Monaco/Surfers Paradies/Valencia all the time. That is an interesting concept, because people will not need to go to the "middle of nowhere" (as is still the case with race tracks) to see it. They can use public transport, have likely no or smaller accommodation costs and if it "sucks" are home in 30 min.
Now, that may be a nonevent for "true blue / die hard" fans, but for the average joe/jolie who just want's to have a look at it, this could be a compelling enough argument to give it a try.
Sure it will cost loads of money if you wanna push the envelope on the technical side, just as F1 or any other top notch racing series does, so what's the big deal with that?
On the positive side, it opens up the possibility for companies/sponsors to become involved, which may don't have many ties to the traditional automotive field/racing. Sure, you can put your name on about anything for some branding, can be an F1 car, can be trickot/jersey in any other sport. But who is going to profit from a move to more EV's?
Apart from companies like Siemens and GE you have the large utility companies like EdF &/or Eon etc. who could be willing to throw some money onto this.
I think, the motorsport landscape is large and diversified enough to accommodate this type of racing. If nobody wants to see it, it will die anyway sooner or later, but if you look at RC car racing, where electric and petrol classes exist and both have there own championships and followers, why something similar should not work in 1:1 scale as well.
I think a discussion centering around one replacing the other or one or the other is a bit mood, and off the mark, for now it will be one and the other, and I don't think there is anything wrong with having more racing to choose from.