I think it's great that they've identified cursor placement as one of the trickier aspects of coding on a phone. The joystick is a great idea, I found it a bit hard to use at first (kind of flies around the screen) but the little buttons are good for getting your cursor inside a string literal, for example.
I'm excited to get my students trying this, many of them only have a school issued iPad. I'm also curious about how well the autocomplete can be tuned. I think right now suggestions are a bit rough, I'm hopeful they'll start using language server suggestions soon. (Something like System.out.println, you should definitely get out as an option after System.)