It's not even close to the speed AirDrop has. This is not an alternative to AirDrop. I tried it multiple times but it's slow every time. These alternatives don't use the same technology.
It is an alternative. It just doesn't fulfill all the needs Airdrop does. I've had situation where I want to share a photo or a text file and it'll work great in that scenario.
It's faster than the standard wireless transfer speed between my iPhone and my Windows PC (0 KB/s)