If the expression evaluates to 0 then the exit code of the expression is set to 1 (''FALSE''). If the expression evaluates to something else than 0, then the exit code of the expression is set to 0 (''TRUE''). For this return code mapping, please see [[syntax:arith_expr#arithmetic_expressions_and_return_codes | this section]].
The functionality basically is equivalent to what the [[commands:builtin:let | ''let'' builtin command]] does. The arithmetic evaluation compound command should be preferred.