Tried this on Arch with snapd-git package. A word of warning, I’m not a sublime user.
The basic functionality of a text editor seems to work just fine. I was able to open & save files, edit some code. Then I installed sublime-text-dev from AUR. The only difference I observed was that in case of sublime snap, the application icon was not used Gnome-Shell.
Can you elaborate that a bit. Do you mean that if you install sublime from snap, you don’t see its icon in GNOME shell application drawer at all or does it show a fallback icon ?