It's 70% pale oil with a splash of alcohol and naphtha. You're paying more for the can than the product. It also has a KV100 of just 2.6 cSt. It's unlikely to cause any major damage, but it doesn't help matters. It doesn't clean miraculously, just oxidizes the oil more than anything. Even if it did clean well, you wouldn't want to quick clean an engine anyway. Cleaning a dirty engine is something that should be done over long periods of time such as across a few OCIs, not in 300 miles. Ideally you also want the solvents doing the cleaning to also have some decent lubricating properties. IPA is not such a solvent. You want POE and AN.
The moral is, just use a better oil. M1 FS, HPL PCMO and HDMO, RL HP, and Driven LS/DT oils all contain ester and/or naphthalenes for cleaning without diluting your additives and maintaining lubricity.
EDIT: Something to add to this, the cleaning components of Seafoam (and MMO which is the same thing for half the price) is the isopropyl alcohol and light naphtha. The boiling point of IPA and naphtha is 181*F and 195*F respectively. They're going to evaporate the first time the oil gets up to normal operating temp, leaving behind just pale oil. How is that going to do anything other than oxidize the oil?