You're not wrong.
I've been developing with kotlin-js and kotlin multiplatform for three years now. Kotlin-js and multi platform is pretty usable but the upgrades can be challenging. Parts of the ecosystem have been pretty stable for years at this point and there are lots of multi platform libraries that are very usable and stable. I use quite a few of those on jvm and js.
Even though it is in beta since October, KMM (Kotlin Multiplatform for mobile) is already used by a lot of apps; including some flutter apps. It doesn't provide a UI layer but you use it to share business logic across Android and Ios. Jetbrains has done a lot of work on the native compiler to get IOS more stable.
Quite usable at this point but still some instability indeed. I expect they will announce a 1.0 release some time after kotlin 2.0 is released, which includes the revamped compiler. Kotlin 2.0 should happen by early/mid 2024.
Compose multiplatform is yet a different thing that relates to this. Some of the compilation targets are still experimental (IOS, WASM) and indeed not ready for production usage. That too is going to benefit a lot from Kotlin 2.0. The whole compiler chain for wasm is basically built on that.