1. you can try to describe a sound with some tags and it will try to generate a sound to capture the feeling of these tags
2.you can feed it with a sound sample and it will try to re-synthesize the sound with its synth engine. Though the end result will usually be just a "re-imagined" version of your input sample.
My guess is the underlying model is not a "deep" model. The main benefit is that the end result is not a wave file, but a list of generated parameters that can be synthesized by the synthplant engine. And now it comes the interesting part: you can tweak these parameters to finetune the generated sound. These parameters have actual meanings (FM ratio, reverb etc.)
That I didn't get from the text.
It doesn't make it any less impressive to those who know what hardware requirements for LLMs usually is/are but for those with no idea it usually ends up reinforcing bitterness towards it as they feel annoyed that their own hardware is somehow worse and yet are unable to upgrade because of said LLMs stealing all the hardware in the world all while RAM/memory/storage manufacturers manipulate the market(s) against them.