Interesting, seems to be the AWS equivalent of Cloudflare Workers, though with much stricter restrictions. Max execution time: 1ms, Max memory: 2MB.
On the surface they are undercutting Cloudflare in terms of price ($0.10 vs $0.15 per million), but with such differences in functionality it probably isn't a fair comparison.
The architectural approach is what I find most interesting. There was another post that went into more details on the architecture and security, but it seems to have been taken down.