In case you already own a bunch of Sugarpill and are trying to decide about the UD Electric palette (or the reverse), here are some swatches I did. I tried to find the closest Sugarpill shades I could for each UD shade (and I do own the entire line except for one, which I know for a fact doesn't match anything in the palette). Since Sugarpill obviously has more shades, assume that if I didn't swatch it, then it didn't even come close.
Swatched using my fingers on bare skin.
So, only you can decide for yourself if you need multiple bright shades, but hopefully this helped you with your decision-making a little. Also keep in mind that if you're new to brights and are just learning to experiment, then a palette would be a good way to go if you want more shades in smaller amounts, whereas Sugarpill's products are all full-size (even their palettes), but if you only want a couple of shades, then that may be a better choice.
Note that I haven't even TRIED to compare UD's Electric palette shades against their existing eye shadow line. They have SO MANY that I bet there are quite a few shades that are really similar to each other...