They handle all the lightning stuff on the back end and you don't have to worry about it. You just send them your sats and they issue you a shitcoin. basically.

So you're interoperable with the lightning network through their token. It's a great UX, but of course it's custodial so they can rugpull you
and they could also print tokens that weren't backed by Sats.

so it's a bank as the OP describes.

you can use anybody's mint because on the back end they're connected to all the other LN nodes. So if you trust that nostr:nprofile1qqsw9n8heusyq0el9f99tveg7r0rhcu9tznatuekxt764m78ymqu36cpz4mhxue69uhhyetvv9ujuat50phjummwv5hszymhwden5te0wahhgtn4w3ux7tn0dejj7qg4waehxw309an8yetwwvh82arcduhx7mn99uuwx66a guy, you can use his tokens.
or you and your buddies could spin up a mint. 

 It sounds like it might be good for casual users with small amounts of sats. It's an easy, low-cost way to use lightning without any of the complexities or expenses involved with running your own lightning node. I can see where it has its place in the greater community, but not much value if you already run your own node and manage your own bitcoin.  

 that's exactly what I do
10k sats on minibits for zapping and besides that I don't F with LN

I have Monero for actual purchases 

 I'm all for a variety of options. Not everyone is able or interested in running their own lightning node, especially if zaps are the only thing they're using it for. It sounds like a nice all-in-one solution for casual users that doesn't require a big financial or experiential commitment. It makes sats more accessible to a larger audience.