If you are out of range it relies on phones running the Tile app being within range of the device, same as all of these Bluetooth trackers. AirTags can be pretty effective in countries where there are a lot of iPhones because they'll all have their equivalent app in them. Samsung's tags similarly, since there are a lot of Samsungs and Smart Things is pre-installed on them. If Google ever release something and integrate it with Find My Device then they'll have the biggest network of the lot. But how many people will have the Tile app installed? If I lived in Palo Alto then I'd guess there might be a fair number around, but I have never known anyone in real life mention Tile, and I suspect that a lot of places I hang out or travel to there will be few, or more likely no, Tile users nearby. Whereas anywhere there are people there will be Androids, and mostly there will be iPhones too, which is why a tracking network based on a pre-installed app will be much more powerful.
So if I was worried about losing my keys around my own house, Tile would be fine. But if I might become separated from the item I'm tracking I would not have confidence in Tile to locate it. And I'm not someone who loses things in their own house, so that wouldn't be my use case for something like this.