A .gltf is several files, and the geometry is in a separate binary file. STL is accepted by every 3D printer and slicer. glTF is at home in 3D on the web and in real-time engines; STL is the usual choice for 3D printing.
The model is converted as triangles: lines and points are dropped, positions are used as they are, and no axis conversion is applied, so a model that is Y-up in glTF and Z-up in STL, OBJ and PLY is written exactly as it was read. Textures are not carried over, a glTF that points at a separate .bin file cannot be read from a single dropped file, and Draco or meshopt compressed geometry is refused with a message asking for an uncompressed export. STL stores geometry only, so vertex colours and materials are dropped. Models up to 3,000,000 triangles are accepted.