Huh. Yeah, I dove around a bit, browsed the wiki, etc, and so far all I've seen is the equivalent of "an open source version of the Parse backend". No description anywhere that I can see about
what it does or
why you should care (unless you're already on Parse, of course).
IIRC the Parse homepage used to have this, but ever since the shutdown notice (so, for the past year) the homepage has largely been useless.