I mean, I gathered some things. And yes, I watched the large video (after some buffering issues) scrolled through the bullets of features and let it sink in.

I wasn't drawn in enough to read all of the text, but I did take in the headlines and subheadings. And form all of that I left with the impression that it was either:

a. some sort of app for Android (standalne) b. an OS (some kind of lite version of Android with just Facebook social features) and/or; c. a phone that Facebook were making with HTC;

... or some combination thereof.

I understand now that it's a homescreen replacement. But that certainly wasn't the impression I left with.