It doesn’t. It creates a copy:
julia> v= [rand(SVector{8}) for _ in 1:1024]; @cast c[j⊗i] := v[i][j] ;
julia> pointer(v), pointer(c)
(Ptr{SVector{8, Float64}} @0x00000000043ab280, Ptr{Float64} @0x0000000004907a00)
In many cases, the entire point of the flattened view is that it becomes possible to mutate single entries (i.e. you reinterpret Vector{SVector} as Matrix).