I am confused by how it actually mounts. It looks like it totally replaces the handlebars, yes?

It looks like it would wreak havoc on the handling of a bicycle and lacks any serious carrying capacity.

I don't really understand the purpose of it to be honest. A rack that bulky should carry a lot more than an unsupported rack with sides that low can actually carry. Its looks make things look like its for a utility bike, but it just can't carry as much. I am not even sure I like the aesthetics that much.