Given this Operator controller snippet watching a custom resource, what will happen when a new resource instance is created?

Given this Operator controller snippet watching a custom resource, what will happen when a new resource instance is created?

func (r *MyOperatorReconciler) Reconcile(ctx context.Context, req ctrl.Request) (ctrl.Result, error) {
    var app MyApp
    if err := r.Get(ctx, req.NamespacedName, &app); err != nil {
        return ctrl.Result{}, client.IgnoreNotFound(err)
    }
    // Logic to create or update deployment based on app spec
    return ctrl.Result{}, nil
}