It is spooky fast and Just Works, in my rather extensive experience with it. Almost all of my experience with it has been in Java, so I'm not sure the same is true in Kotlin though I would assume it would be similar.
Also with functions you know they can't access private members, with extension methods you confuse them with real methods and have to think they can.
It's only the same thing if you know about it and without a tool you can't know, even with tool it takes some inspection.
Also, you need to specifically import the namespace of the extension function in order to use it, making it very clear to the reader of what is going on. It is not some hidden IDE magic, it's built into the core language.
I said it was misleading syntax sugar because it implies that static functions defined in any namespace (extension methods) are the same as methods - which have access to internal members and are defined within class hierarchy.
If you know something is an extension method then you know it's just syntax sugar, but you can't determine that just by looking at the code.
I see extension methods as an inferior substitute for free functions and piping/chaining operators in C#