I am a beta user and I am seriously impressed if I’m being honest. It works fully offline, is multilingual and is fast, even on the non-latest iPhone (I am using an iPhone 12 Pro Max). It is way better than apples previous version and better than locally installed whisper. They’ve done incredible work. Same with the new, transformer-based keyboard on iOS which is way better. And if you type in English, it sometimes shows word suggestions in the text field itself (similar how copilot works in an IDE).