Better then Ethereum, you can generate your own chain which will be connected to ark chain, other ark's chains and external chains trough ACES. For example if you want to create a game like cryptokitties you will just fork and add arkVM to your chain, you will have a cryptokitties chain but without clogging ark main chain because it's on a separate blockchain.
It's too soon to talk about fees etc....arkVM and push button are not 100% complete but they're almost here and I'm sure that ark's devs will give us all the answers we need