This means that in theory you (as a dev) don't need (to write any) js, nor do your users need to download a full page (for any interaction) like it's 1999. Your webserver replies with fully server-renderd HTML but just for the dom node (say a div) that you want to replace.
It's fun for very simple things, even great for extremely simple interactions modes. For interactive products, anything beyond simple CRUDs, it's madness.
Whenever you want to sprinkle a tiny bit of interactivity you'll have to choose between the path of least resistance (a small hack on HTMX) or a proper way. State management gets out of control real fast, it's the opposite of UI=f(state).
I've seen it go bad, then worse with alpine-js, and then completely ripped in favor of something where people can let the browser do browser things.
[edit for clarity]