>>348511331
The cloth component performs a physics simulation on mesh renderers it's attached to that acts like cloth. Unlike dynamic bones, which perform the calculations on bones in your armature, cloth performs calculations on the individual vertices of the mesh which gives a different effect. This sounds expensive but iirc it uses the GPU to do these calculations on vertices, unlike dynbones which uses your CPU.
In practice it's super fucky to set up and look good. Also I haven't seen anyone use it without being very poor by perf ranking.