That is going to be used... less than Swift for the servers
I don't know. Could be nice for those developers that prioritize iOS and now they could keep writing Swift also for Android.
Is it gonna be what you primarily use if you wanna write an Android app? Probably not.
Is it gonna displace react Native? Probably not. Is it gonna reach the levels of flutter? Maybe.
This is going to be used much more than Swift for servers. Swift is a primarily client-side mobile language. It makes sense that you tap into reusing the logic.
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Interestingly, Kotlin has a pretty solid cross-platform story.
I'd pick it over Swift if targeting Android since it can build and run in the JVM as well as natively -- and has Swift/ObjC interop. Its also very usable on the server if you wanted to, since you can use it in place of Java and tap into the very mature JVM ecosystem. If that's what you're into.
And I have a lot more faith in JetBrains being good stewards of the language rather than Apple, who have a weird collection of priorities.