@Hulex It does two main things:
1) Let you use these controllers on a Switch: PS4, PS3, Wii U Pro, Xbox One, Xbox 360, and many standard wired USB controllers like ones by Logitech
2) Lets you use these controllers on a PC or PS3: the above, plus Switch Pro and Switch Joy-Cons.
It does seem to support wireless connections but I haven't tested that yet. On the PS4 pad, all buttons work, including the gryo, home, and share button
@Hulex (though you hit the touch pad to snap a sceenshot and the "share" button for minus)