It replaces every Pokemon with another Pokemon from Gen 1-7. So Budew may be turned into a Mewtwo for example.
Not sure if you could collect every Pokemon since not every encounter slot is available (if only Groudon turned into Farfetch'd there would be no way to get Farfetch'd because u coulnt get Groudon in the base game)
Also i found possible bugs
i had a trainer with a Mega-Mewtwo, not evolving Mewtwo into Mega mid fight, but he directly send out the Mega, not sure if thats intended
the first Pulse Tangrowth was a normal Gengar and the 2nd and 3rd was a mega Gengar, arent they all supposed to be the same stage?
Lands Wrath didnt do any damage