I've used 360 view systems in a number of different medium to high end vehicles for many years.
Having first hand experience with both systems I 100% stand by the statement that 360 view cannot handle this situation as well as Tesla Vision did (unless you want to stay hung up on the fact that the cars are perfectly represented as grey shapes rather than "pretty" (warped) pictures).
A 4 camera 360 view cannot handle when the cars are as close as they were in this example, the side cameras simply cannot see enough to warp the image correctly and you get the exact situation in the other video I'd posted on page 1 and perfectly demonstrates the limitations of a 360 view that is not present in Tesla Vision. You've got video evidence of a difficult situation where Tesla Vision worked perfectly and video evidence of a less difficult situation where 360 view failed miserably.