It's a javascript-based imitation, much like all of those js-based imitations of various Windows versions.
The original source code isn't really involved, which is a shame, since it is actually available.
IMHO this should have been (something along the lines of) GNUstep + TimBL's original code (mirror: https://github.com/cynthia/WorldWideWeb) + Emscripten + getting Emscripten to work with ObjC. Now, that would have been cool.
This is the most commented HN posting on this from that time (2019):
You can already run nextstep in browser, see https://aresluna.org/frame-of-preference/ (section "Back to 1992")
TimBL's original NeXT is still on display at CERN, I've seen it.
I've even stood in the office that was his when he wrote it (it was empty when I was there, but had recently been in use by some incredibly high-end physicist).
A WASM emulator of 68040 and NeXT, the original OS and compiler, then run WWW on top of that.
The performance would likely be comparable %)