Basic idea is an internal video portal. Simple to upload videos. We take care of transcoding the video so it plays back on any device no matter what your bandwidth is. We do adaptive streaming so we change the video quality every few seconds based on your current available bandwidth.
Channels is way to organize and set permissions for videos. You have 3 permission levels at the channel "Owners" - Can change things about the channel. "Editors" - can upload and edit and delete videos. "Viewers" - can view videos.
We just released ability to take one of the videos from the portal and embed it outside the portal a few weeks ago. This is super useful. YOu can take these videos put them in SPO pages, on prem SP, or other web page as long as you have single sign on or adfs setup so the user auths to O365.
Emebed videos are viewable by anyone who has SPO liscense... so if you have kiosk or lower sku users, they can view any videos that are embeded. They just don't get access to the video portal itself.