Expo is wonderful for prototyping and quick iteration. The ability to use Snacks online and see them working on the phone is great.
But beyond that everything in RN feels hacky and unfinished. While working with it I had some silly issues with Metro, and found some subtle bugs in Text and Button components.
About the "Native" part. I think that a lot of people have the expectation that doing RN apps will be the same as building a iOS or Android native app. But RN+Expo is not that different from frameworks like Ionic. Is really hard to do an app that follows the Apple HIG or Material Guidelines, you end with something in the middle that doesn't look or feels truly native (at least not without tons of extra work to imitate things that you get for free in the native UI kit) .
RN without Expo is not so nice, lots of rough edges and sooner or later you'll need to write interop code in Objective-C or Android Java to take advantage of the native platform.