Check the very last bit of code shown, just under _physics_process it has the gravity as velocity.y = delta * GRAVITY and at the end of the same function it has move_and_slide.
GRAViTY is set to 9.8 (m/s/s). This is is the standard value in physics for Earth's standard gravity.
The units here are meters per second per second.
delta is the time_step set as 1/60th of a second normally. To simulate the acceleration, velocity is updated by G * delta per _physics_process() invocation.
The calculation is correct to update the position of the kinematic WRT to 1 (Earth) G. Where the velocity of an object increases by 9.8 meters per second, thus 0, 9.8, 2 * 9.8.....each second until it approaches the speed of light (at least in our little real universe), but I digress into geeking physics.