I'm back on Windows 10 now after a decade of MacOS.
But my recollection is that it's fine as a search feature, and not that great as a launcher— if you just blindly type a prefix and press enter (as you can on Windows or Ubuntu), you end up launching a window of extended search results. Maybe I was doing it wrong somehow, but whenever I used Spotlight to search for an app, I needed to type it in, wait for the search to completely resolve, and then use the mouse to select and launch the application out of the results.
But my recollection is that it's fine as a search feature, and not that great as a launcher— if you just blindly type a prefix and press enter (as you can on Windows or Ubuntu), you end up launching a window of extended search results. Maybe I was doing it wrong somehow, but whenever I used Spotlight to search for an app, I needed to type it in, wait for the search to completely resolve, and then use the mouse to select and launch the application out of the results.