It really is wonderful, isn't it.

Literal

Truly splendid [is-です] [agreement-ね].

すばらしい ('wonderful, splendid, magnificent') is a common positive い-adjective. The polite copula です is colloquially attached to い-adjectives in polite speech (strictly, い-adjectives don't require a copula, but です is added for register). Final ね seeks agreement from the listener.