Caps are very fast discharge, there looks to be sort of a step up with what looks like voltage regulator and inductor next to it probably on the 3.3v pin to ramp up to V of the supercap. It seems the same circuit it used to provide power to the M.2 too I can't see bjt or optocoupler etc

I'd be worried about voltage spike frying the M.2 because of cheap components tbh at some point that little part of the pcb gives power to the M.2 or even worse the inductor and cheap caps messing with control signals leading to hard to replicate read/write errors hard to tell how its all connected. One other issue would be how pcie works the cap won't save the control signals so you'd still get data loss etc

I'm new with electronics so what I've said above could be gibberish but I wouldn't risk a nice m.2 on this board to me it seems redundant and provides no additional redundancy for data loss.