For example, if you choose to morph two different drum loops you can end up with an entirely new, crisp, complex hybrid that maintains aspects of the originals but manages to sound convincing in its own right. But a mere vocoder this ain’t: it’s inherently much less goofy-sounding, and the potential integration of the two sources goes far deeper and is more respectful to harmonic structure and transient content. The effect can sound closely reminiscent to vocoding, especially if your inputs happened to be a lead vocal and a synth pad.
Most importantly, what does it sound like? Well, that’s difficult to answer, because results are very dependent on the input signals.