This is not correct. The Kotlin compiler could treat every parameter and return value that doesn't have a nullability annotation as an implicitly unwrapped optional (Type!). It could even support all of the popular nullability annotations. There is no requirement to choose just one.
The beauty of IUO is that you can ignore the nullability and you have the same amount of safety you have today: if you touch a null value you get an exception (or abort in Swift's case). The benefit is you can insert a null check in one place which then propagates through the rest of your Kotlin (or Swift) code.