Ok so accidentally activating speed limit mode will disable cruise control and you'll immediately start decelerating? That doesn't sound good.

Yes, that seems to be by far the biggest issue with it: it's a flip switch so you can easily toggle it by resting your arm on the center console, which would be especially likely when cruising on the freeway.

The “on” button on the wheel does not work if the button behind the parking break isn’t pressed.

And you can easily turn the cruise control off entirely by just resting your elbow on that button.