Yep basically. The real magic is when you combine it with a Debrid service, which essentially puts a cache in front of torrents. If the torrent has been downloaded before, you get a direct hosted stream instead of having to stream your movie from active seeders (i.e. buffering hell).

That sounds slick. I'll have to check it out!

Where does that hosted stream live? I'll have to peep their docs. Sounds interesting