I don't get why people are downvoting this due to the parametric claim.

Yes, STEP files don't have a feature tree and cannot be parameterized. I read it as OP saying that under the hood there __is__ parameterization before the final export to STEP.

This means that they could expose this in the future, say if they chose to output to FreeCAD FCStd or even some proprietary format like Solidworks (via $$$ CAD translator packages).

This is just my read - I'm not affiliated and have no internal knowledge to Spectral or SGS-1, but I have worked deep in building CAD plug-ins and custom software for manufacturing automation.

All that said, the demo model quality has issues and many are unmanufacturable (with subtractive means at least) - so there's still along way to go. But I don't think the presentation of their capabilities is disingenuous.

Congrats on the launch of v1, keep going!