I can say if is not exactly defi, no one is swapping any token there. you are just depositing tokens and getting some VFT tokens depending upon your %share.

I feel the whole purpose is to get traction for ML tribe, and a platform to the musician to create their own brand NFT and "VFT" drop of token attract the user to go to that platform and earn VFT that can be either sold in Hive-Engine or use to buy NFT using VFT.

I also bought one NFT using my VFT income and I think if it not there(that semi defi thing), I might not have visited the platform, forget about buying the NFT there.