Yes, the Lucid Dreamer is more effective than any other device available because it combines both tACS, light and sound stimulation and a MILD training module. tACS was studied by Ursula Vos in 2013 and her Nature Neuroscience paper concluded an effectiveness of 77%. In reality people will experience a lower effectiveness then 77%. This is because her definition of lucidity did not require full consciousness in the dream. Based on heightened scores on Control and Dissociation in the questionnaire she used, she scored dreams as being lucid dreams.
Being able to combine both tACS and/or light & sound stimulation will give you the easiest and fastest route to lucidity. Please keep in mind that adding MILD exercises will help you become lucid even faster. Research has shown that light alone has a limited effect. When combining light and MILD exercises though, around 1 in 5 night people have a lucid dream.
To summarize: The Lucid Dreamer implements old and new techniques that are known to induce lucid dreams, provides the possibility to flexibly combine these techniques and also adds new innovative approaches to REM detection, tACS, light/audio stimulation and cognitive exercises.