LIDAR units have different effective ranges and, most importantly, number of points they capture. These cheap units generally have a small number of points. Looks like the Velabit has a range of about 100 meters, but FOV is 60 degrees horizontal by 10 degrees vertical, so you would need to mount several of these around a vehicle to get the equivalent coverage of a 360 degree unit. The press releases don't say how many points are in its point cloud, but I'm guessing it's probably 1/10th of a larger unit's.