If you wish or need to, you can use this module as a standard 4 channel VCA.
However, the main feature is the morph functionality, which allows you to blend those channels together.
The blending can be done manually or via modulation sources and can happen at audio or sub-audio rates.
For example, you can slowly mix different oscillators running through different filters to create shifting nuances of an otherwise static sound.
Or, as shown in the manual, you can run an audio signal into the morph control, and use the module as a wave shaper.