Hi real quantum physicist, yup, you pretty much got it. This is a prototype demo of the concept – and is using real IBM quantum computers. The queues are between 10s and 10min generally.
This is explained very closely to what you've said in the "Technical details" help section. Occasionally you'll get a real-time result. I'll check out the links you sent next, thank you!
Do you think qBraid could support this with more real-time latency?