What exactly does this do??
It helps connect different network types together. Speeds, cable types, etc.
Looks like a fancy schmancy networking switch. No clue why it’s called a “media” converter unless they are calling protocols “media.”
This is a media converter. in the case of this product, it converts multimode fiber into Ethernet. This one is only capable of handling Fast Ethernet, which is up to 100Mbps. This could be used if you have a fiber backbone and your switch does not have the capabilities to accept fiber.