It runs well. Honestly, I'd actually say surprisingly well.
I picked up the Mac license and did some tests on an M1 MacBook Pro, and while I didn't get 60fps or anything, performance stayed solidly between 28 and 45 fps. (The 28 end of that range was in Limsa. Unsurprisingly.) Fan didn't kick on and the laptop didn't get scalding hot, either, though I grant I didn't go try alliance raids or anything; I wandered around a bit to poke at stuff and make sure things weren't horribly broken, fixed up my UI for the MacBook Pro's screen resolution, and then crafted raid pots while I watched TV.
It actually ran better under Rosetta 2 on the M1 Mac unplugged from power than on the 2018 Intel MacBook Pro under Boot Campand connected to a power supply. Which was not the result I expected, let me assure you; ARM is a far more efficient architecture than the (slightly creaky) x86/x64 is, and Rosetta 2 is actually an astonishing bit of engineering, but I didn't expect the result to be even remotely as good as it is.
You could probably eke better performance out of it on the MacOS side with an Intel MacBook Pro with a Radeon eGPU connected via Thunderbolt 3, but honestly I'd bet only slightly better.
There were some initial issues with it, though they were on the Rosetta 2 side of things. Namely, Rosetta 2 is an AOT (Ahead-of-Time) compiler; it analyzes an Intel program the first time you run it, then actually generates an ARM executable. It's really, really good at what it does -- see my previous 'brilliant bit of engineering' remark -- but it was not super aware of how to handle Crossover bottles (like what the FFXIV client runs in). So the first time you downloaded a patch, the actual executable that ran FFXIV (i.e., the Crossover WINE-variant wrapped around FFXIV) did not change, but the data it loaded (i.e., FFXIV) did... which meant Rosetta 2 didn't see it as a changed executable to re-generate the ARM version.
The practical upshot of which was that it would work swimmingly when you first installed it, and then the first time you installed a patch it would just silently fail to run ever again. (Because the ARM binary was out of sync with the new version.) There were fairly simple ways to fix that—basically trickery to make Rosetta see the patched version as a new version—but they were not the sort of thing customer service teams would be likely to provide as advice. Or that the average user would probably feel entirely comfortable doing.
Sometime in the past few months, though, Apple seemingly fixed that issue in Rosetta 2; Crossover (and other WINE variants) seem to work fine now even when something in the bottle gets updated, which means FFXIV patching itself doesn't break the world any longer.