I've dabbled a bit with it and it's very close to the cuff measurements.
It works by calibrating with their custom arm cuff device. I'd guess that it's correlating what the wrist sensor sees w.r.t. your wrist blood vessels and what the "true" reading is from your arm. You re-do the calibration every few weeks.
The device takes a reading every 20 or 30 minutes or so and seems to try to pick periods where you're more stationary.
However, one thing to be aware of is that you are not used to seeing your BP readings from the entire day. Did you jump in a cold plunge 10 minutes before it ran? Get ready to see a really high reading dot in the 'danger zone'. Went for a jog and are catching your breath on a park bench? High dot.
This isn't a bad thing, it just takes some getting used to since your "daily average" will be significantly above the readings you're used to if you're doing arm cuff measurements at the start/end of the day. Of course it's also getting readings at those more usual times too, but they get washed out in the larger number of data points from your day.
And goes without saying, your blood pressure SHOULD go up and down based on your activity and time of day. You just aren't used to seeing it other than at true rest.
But all in all it's been fascinating to see, and there's no doubt in my mind that this technology will be mainstream quickly (and Apple will likely dominate it).