Q1: This is not much information about how the seed is derived. Is examining the source code the only way to understand more about this? I haven't done that yet.
You either trust that multiple eyes have reviewed and audited the code or you look and verify yourself. Electrum is well designed and a long time on the market. Well, that doesn't prove anything if everybody kept their eyes shut.
Q2: ... I think I read recently that future models will be able to break ECDSA.
This is quite some bullshit, don't believe every nonsense you read anywhere.
Q3: When I create a new wallet, Electrum instantly produces a 12 word seed. Since the Coldcard exploit I've read that entropy should be added with a passphrase, dice rollls, mouse movements etc, yet with Electrum there is no option for any of this. Why would these other wallets need all that if Electrum doesn't, and how can we verify the 12 word seeds generated by Electrum are sufficient?
You can tell Electrum via the console tab to produce 24 recovery words, if that makes you feel safer.
You're wrong when you say "there is no option for any of this". When you create a standard Electrum wallet new, on the screen where the Electrum recovery words are shown, there's an "Options" button, click on it, ans "Seed Options" opens where you can tick the box "Extend this seed with custom words". Here you can specify the additional mnemonic passphrase. It can be anything, not necessarily only some custom words. Beware! The smallest error in the additional mnemonic passphrase and you don't get your wallet you expect but just another empty wallet.
If you extend the seed words (the mnemonic recovery words, by standard 12, but you can instruct Electrum to generate more;
I will have to look up the command for it) with an additional mnemonic passphrase, it's very important to properly document and backup both, but not together!
Enter this in the Console tab to generate 24 recovery words for an Electrum Segwit wallet (standard). If you don't see the Console tab (not enabled by default), enable it from the "View" menu.