Despawning can be thought of as what happens in any city when the traffic grid is overwhelmed: some travel simply does not occur at all. People stay home or they do not transact business because traffic is too bad.
It's not a perfect traffic model - for instance, residents don't really need to get to work or school; they are just teleported there if there's no route. Cars do not need to be parked. So a city sim with the Factorio devs' obsession with optimization would be great. But it's not accurate to say that Skylines traffic is just derived from the statistics of the city.