I don't think that current version can be described as "fine". Yes it works but at the cost of downloading every video file automatically in the folder that you open in Finder. If you have installed softwares like istat menus to monitor those actions, you'll find that absurd network usage. Let's say if you have some pirated films or TV series stored in your cloud, once you open the subfolder, all of the video episodes start downloading. This will even make your streaming experience unbearable. Considering that m1 macs are faced with issues regarding excessive SSD usage, this behaviour is even more annoying right now. Last time I expressed my concern about this issue by email, the support staff told me that only by using the proprietary file manager from eltima can prevent this from happening. That was already 2 months ago. And yet a cloud storage service called pcloud can already do that.
To put that in mind, I'm kinda disappointed with cloudmounter honestly.