Basically an interesting toy app but not all that useful for anything major.

Honestly, Xcode for iPad at this point feels like putting the cart before the horse. iPadOS needs major changes for a version of Xcode to ever move beyond being an interesting demo https://twitter.com/johnsundell/status/1252944192243937280

Ultimately iPadOS needs a rethink of the app lifecycle, taking it far away from the iPhone setup and closer to the Mac. Apple could do a one of version of this for Xcode, but I doubt that would fly well

Plus there's the whole thing of, why take resources away from improving the actual Xcode, if all you’re going to do is release a cut down version that can't work with existing projects and offers a worse experience even for new apps