Tor is quite a complicated project. Personally, I strongly doubt that any addition to the browser will be comparable to it. If you compare the level of Tor with something, then with similar projects. For example - I2P (although they have different goals). The methods used by Tor mean a significant number of nodes in the global network that are used to provide secure communication. Therefore, the security of other extensions will be comparable only when using a comparable number of servers.
To begin at least with the fact that if the extension uses a connection to servers that are under the control of any organization (even worse - if they are all in the same country), then you should not trust such a system. Although here, of course, everything relates to what level of security you need. If you just want the young hacker from the next door to not be able to decipher the data sent to the network by you or simply hide your IP from the site administration - that’s enough.
Tor is not just encrypting and hiding IP. Why its encryption is rather complicated and why the network is slow - you can read here . In short - when sending data, Tor encrypts them several times and sends them through a chain, not by a single server, (by default, if the memory doesn’t change, 3 nodes). Each of them removes one layer of encryption and reads where to send the packet further. That is, the initial sender and the final recipient are not known to all participants in the chain. When receiving a response from the server, the data also passes through several nodes, each of which adds an encryption layer. And every 10 minutes (again - if the memory does not fail), this chain changes.