Soft shadows "work" by using multiple point lights. The more you have, the more accurate the shadows (but the longer the render times).
Soft shadows mainly just simulate the fact that the sun is a disk of light, rather than a point light. We are used to seeing everything lit this way on Earth.
The radius increases just simulate more diffuse lighting, simulating a more overcast day and/or a larger sun disk. Provided samples stay the same, the rendertimes will not increase (theoretically).