So far I thought that peltir should not be used to cool down electronics as it may lead to condensation and thus damage the components.

Seems gimmicky. A Peltier device running at less than 3.5W (because that is shared with the fan and status LED) is probably only moving 3.5W of heat off the phone body, and then the fan appears to be blowing that heat right back onto the phone body. Plus, if you use this with the magnet pad, you probably aren't even making good thermal contact with the phone body in the first place. Probably not a coincidence that the press release of an article spends all its time on how little power it draws and how tasteful the LED is without any mention of temperature impacts

I bought a watercooler version that was originally designed for a phone. It works pretty well, but mine is running at 100W.

I put it on the heatpipes for my laptop running local LLMs.

The ROG Phones have had this for a while, it doesn't do much