I was able to find this: https://www.sciencedirect.com/science/article/abs/pii/S00062....
Apparently most of the effect is due to activation of the "bitter taste reception pathways" in the gut. So even though it has very low bioavailibility, it can still stimulate GLP-1 secretion just simply due to its incredible bitterness
Does it only stimulate GLP-1 in the gut, though? As I understand it, most of the positive effects of GLP-1 agonists are the effect they have on the brain's GLP-1 system, not the guts.