Looking at how CounterDisplay and CounterControls work at the bottom of the README, the idea behind this is similar to Valtio (direct updates and changes are pushed on update), except with a lot more manual work. Valtio uses proxies and hooks to get the effect of CounterModel, CounterModelProvider, and useCounterModel automatically, without having to write them yourself.
For comparison, Valtio has the same kind of "counter" example at the top of their README (first and third code blocks): https://github.com/pmndrs/valtio?tab=readme-ov-file#wrap-you...