ECT can be very, very unsafe. 70% of patients experience some form of memory loss and at least 30% of patients experience self-reported permanent memory loss. The rate of major adverse cardiac events found in a 2019 meta-analysis was 1 in 39 patients. For the people that it helps, I'm happy they've found relief, but it's a tool with significant costs and I know a fair amount of people who underwent it as children or otherwise were pressured to undergo it and I don't know any of them who have a positive impression of it.
Yes, memory loss surrounding the hours/days of the treatment is the major side effect.
Care to share the meta-analysis? How does 1/39 compare to the base rate of those with severe depression who did not receive ECT?
ECT is a very specific subset of electrical shocks. Just because ECT can have adverse effects doesn't mean all electric shocks will.