Open generics simply propagate type parameters down - T: class produce shared method bodies, as they do with the JIT with the type being passed implicitly. For T: struct the corresponding code is fully monomorphized. This is not related to JIT at all where the main distinction with NativeAOT is when compilation happens.
All generic scenarios are supported. Unbound un-analyzable reflection as well as anything that requires JIT like assembly loading or reflection emit - this doesn't work for obvious reasons.
Putting in more practical terms - had NativeAOT not supported List<T> where T is an open generic, most hello-world scenarios would not work at all. And yet, somehow, by divine intervention, ASP.NET Core, DapperAOT, Avalonia, Uno as well as MAUI iOS under Simulator, even damn WinForms that was never made with NAOT in mind (with a helper package), and so on and so forth - all complex applications, work under NativeAOT.