"An affordable entry to Synology's excellent software, with hardware to match the price."
The 'Secure private cloud' marketing means this is a network-attached storage (NAS) box that runs Synology's well-regarded operating system, letting you build a personal file and backup server in your home.
This is for a user whose primary need is a low-cost, set-and-forget backup destination for household computers. It also serves as a basic private replacement for cloud photo and file services for those who can tolerate a slow interface.
Anyone planning to run a media server with video transcoding (like Plex), serve files to several active users, or experiment with Docker containers should invest in a 'Plus' series model. The anemic, fixed 1GB of RAM is a hard ceiling on this unit's capability.