I can imagine there are some buttons where she might associate the button press with a specific outcome (like, she knows that when she pushes her "food" button, there's a good chance of her getting fed). But whether Billi understands that her getting fed is because she's intentionally communicating with her person is unclear.
Either way, I think the channel is mostly for fun, and my partner and I have appreciated it a lot during the pandemic. Billi had a scary health crisis a couple of weeks ago but looks to be mostly recovered now, thankfully
[1] One of those places is this FAQ page https://www.billispeaks.com/faq
Also interesting is its use of the "angry" button in response to not getting its way, or having something irritating it, or when it's clearly frustrated by not having its needs understood.
AFIACT, the videos are a kind of progress log for demonstrating the cat's learning in different concepts. The older videos focused on [demonstration of] learning of more "core" concepts ("food", "water", "pets", "outside", etc.); but since these concepts are now fully "taught", the owner seems to feel no more need to film the cat communicating these simpler core messages, except when they form an interesting sequence or larger idea.
Instead, the newer videos focus on learning of more fringe concepts — ideas that "come up" less often — and so progress is slower in these.
(Note that, watching the videos chronologically, the number of buttons the cat has available grows quite a bit over time. I think the owner thinks that the cat now understands the general concept of associating things-to-be-communicated with presses of word-buttons, and so feels that they can now feed them new concepts faster.)