Understanding Custom Press

I’ve read a few things about CustomPress, and it sounds like it will be amazing. But I don’t quite have my head around “CustomPress”.

I’m guessing, what it does is say I have a site with very specific information. And I wanted writers to have an easy time of making sure the all the items of info are filled in, and they appear in a standard format on the visitor end of the site. And ideally, they are not distracted by other form fields that are normally in WP add a post, because I can make the “post type” only have those variables. Right?

Can someone explain what it does without using WP language? Maybe give an example?