I thought the idea was to make a competitor to Javascript (essentially <script type="text/dart">) and provide a Javascript-generator as fallback. Checking up on the website, it seems i have misread this.
No you're right! The idea is to implement Dart VM's all major browsers. It is claimed that due to the design of the language, these implementations will be a lot faster than JavaScript.
But as no Dart implementations exist yet, people are studying the generated JavaScript code. Also, certain browsers (IE?) will never get a Dart VM and will thus need to rely on this JavaScript.