It's also worse than that. It uses the Raycast logo directly in the launcher itself. Which is odd because just above this, OP says:

"I've actually thought about that before; I've tried to be extremely clear in the project's README with a disclaimer that this is a non-commercial hobby project and is not affiliated with the official Raycast team in any way."

Clearly a bright kid, but that's quite a fumble. Among my ideas for being extremely clear about not being affiliated with Raycast I would have to say using their name and using their logo together would be the worst way to communicate that.