Having spent some trivial time with some examples I have some understanding of what’s going on and how Svelte compares to other frameworks and approaches to building dynamic web pages.
Svelte also offers a take on the Web Component, a Svelte component is responsible for managing its own dependencies and CSS. The definition of a Svelte component feels a little different to most component systems though. The basics of a templated piece of HTML is pretty standard but the component lives inside a HTML file that also uses the script and style tags to define the behaviour and appearance of the component respectively.
Using standard tags for this is, perhaps unsurprisingly, much more intuitive than defining React or Riot components.