You are generally correct - Twinned is cheap at lower levels, and being able to hit twice will have a higher damage ceiling. Seeking is ideal for ensuring a high-level attack roll spell lands for a reasonable cost, when Twinning might be prohibitively expensive. Plane Shift is solid, and Tasha's Cauldron of Everything adds Bigby's Hand to the list of Sorcerer spells, and re-rolling missed attacks from it is almost the same as taking an extra turn with it.
There are some other upsides to Seeking Spell. It only needs to be used after the roll misses, and can be stacked with advantage to help provide even more accuracy. A multiclass/metamagic adept rogue with seeking spell using Booming Blade or Green Flame Blade could use seeking spell to turn a missed sneak attack into a hit! A Divine Soul sorcerer can use it on Inflict Wounds, a powerful damage spell but one that is more difficult to find twinned targets for since it's a melee spell attack.
Seeking can also be used on the same spell as other metamagic abilities, which twinned cannot. A build could take both Twinned and Seeking - throw two chaos bolts at enemies and re-roll one if it misses.
For a Wild Magic sorcerer however, I would agree that Twinned provides more total damage and greater versatility at lower levels than Seeking Spell. Twinned potentially doubles damage output, along with breaking one of the most fundamental and limiting rules of 5e's spellcasting - concentrating on one thing at a time. But they can be used together, Seeking has uses in other builds more reliant on attack rolls than pure wild magic sorcerer, and gets more useful at higher levels.