It's still far better than closed-source one, since it opens possibility to find out and verify how much privacy you actually lose. For example, Feather wallet actually download all block from certain height. It's very slow for old wallet, but preserver high amount of privacy if you use VPN or other kind of proxy.
If you want faster sync for monero wallet than Cake wallet is the best option we currently have, they are using improved background sync in latest updates.
They even worked with Exodus wallet team and they created dedicated page for users who want to Migrate from Exodus with detailed instructions:
https://docs.cakewallet.com/tutorials/exodus/