Though one may want to wait to do 3D games with it (despite it being advertised to do that) because much of the focus is on 2D at the moment.
Yes, this is the same King that made Candy Crush and all of the other popular mobile apps. It looks to have the same basic feature sets seen in a lot of recent engines such as visual editing and the full suite of tools needed to make a game. The only restriction I’m aware of is that games made with the engine has to be hosted on the engine servers, but that may or may not change in the future.
With so many engines now that have gone free, it may be wise to exercise caution in terms of what to use because the more saturation that this market gets, the more likely at least one of them becomes a dead product in the near future. Choose with caution.