The docs go into a bit more detail of how this works: https://skip.tools/docs/
Seems notable that the transpiler is free during the tech preview, but pricing will be announced later. While the generated Kotlin code is probably not 1:1 with what a human would write, at least it seems you aren't completely locked in to it if you decide to leave.
Interesting idea– definitely a lot of surface area to cover and I am curious to see how it does. I personally love native app development, but wonder how big the downsides are once you start getting into detailed UX designs/architecture patterns...
Maybe using this for UI only and using Kotlin Native would be a better middle ground, but with Compose Multiplatform for iOS in development that might be an overall safer bet for native shared codebases.