Which statement describes the code below?

[james-gates-0212]

const fetchData = () => new Promise((r) => setTimeout(() => r(Date.now()), 100));

const MyComponent = () => {
  const [result, setResult] = React.useState();
  const data = fetchData().then((value) => setResult(value));
  return (
    <div>
      {result === data.toString() ? (
        <div>hello</div>
      ) : (
        <div>good bye</div>
      )}
    </div>
  );
};