I did not switch from Elektron myself, I added the Pyramid to my setup for sequencing my non Elektron gear, I think for me it handles midi sequencing better in many ways than Elektron gear does, not hating on Elektron's midi sequencing but the approaches are different.
With the Pyramid you are not confined to max 4 pages per sequence, so for longer patterns it is easier to use the Pyramid, also the Pyramid handles velocity, chords, CC's, arpeggios, and note input (thanks to Smartpads, CV etc) a little better than Elektron midi sequencers do.
I have no interest in sequencing my Elektron gear from the Pyramid as the internal sequencer on Elektron gear is so tightly integrated with the sound source that it would require a lot of CC editing to achieve anything similar using the Pyramid.
The Pyramid however can make synths or other gear with lesser or no internal sequencer come to life, CC recording and editing is a breeze, and there are some very handy midi fx which can be combined and automated in interesting, intuitive and fun ways.
I'd hesitate to say that the Pyramid is like P-Locks for CC, but it is simlar in some ways, although remember that midi is a serial protocol so you won't get the same number/density of events without timing being affected, although with common sense and the implementation in Pyramid timing issues can be kept to a minimum.