No comment on how useful this is for real world applications. But here is a technique of the algorithm. Most of my knowledge is from CS 270, where this was taught last week. (The course notes are public, the lecture is not.)
https://cs270.org/spring23/lec/A naïve attempt at adapting Dijkstra's to graphs with negative weight edges is to add a constant bias to every edge weight to make all weights positive, then run Dijkstra's. But that doesn't work because it changes the ordering of paths (wrt. cost) if their lengths differ. A path with length one will have its cost increased by B, while a path with length 100 will have its length increased by 100 * B. If the length-100 path was cheaper before adding the bias, after adding it bias it can be more expensive. So path ordering is not preserved.
But that idea, modified slightly, is not too far off a technique that works. Instead of adding a weight to each edge, the technique is to add a weight to each vertex (call this phi(v)) and modify each edge (u, v)'s weight to w(u, v) + phi(u) - phi(v). It turns out that modifying each edge's weight in this way preserves the ordering of paths that start from s and end at t. Consider a path s -> a -> b -> t; its new weight under w_phi is:
w(s, a) + phi(s) - phi(a) +
w(a, b) + phi(a) - phi(b) +
w(b, t) + phi(b) - phi(t)
= phi(s) + w(s, a) + w(a, b) + w(b, t) - phi(t)
Notice how phi(a) and phi(b) cancel each other out. In other words, any path from s to t's weight will be changed by
exactly phi(s) - phi(t), which is a constant! Therefore, the ordering of paths under cost is preserved under this new weight function (weights modified by phi).
This technique, called "price functions" is not novel -- it has been known from the 70's. The paper's main contribution is how to discover price functions very efficiently. The main way the paper does this as follows: first, decompose the graph into smaller strongly connected components (SCCs) whose paths have a "low" number of negative edge weight graphs by removing some small subset of edges (low diameter decomposition, or LDD). Second, recursively find a phi function that makes all edges in the interiors of these SCCs have positive weight. Third, modify that phi (since phis compose additively) for the DAG induced by the SCC decomposition: "fixup" weights of edges that cross from one SCC into another. Finally, modify that phi again to account for the edges that were removed from the graph. (This last part is usually "slow," but it turns out that it is fast because of the LDD algorithm tends to only remove a small number of edges in any path.)
Glossed over a lot of things, and probably not completely accurate -- see the lecture notes or the paper for the real analysis.