IMHO, the app for WebOS 2.0 needs works for the latest firmware and for performance (even when working).
Tablo connects to your OTA antenna coax. Like a TV, it scans for channels and then you select the channels you want. It gets the guide/show metadata from the Internet. On the app side, the local app will sync it's view with your Tablo (time it takes depends on channels you selected). When you setup a recording it uses that metadata to schedule. Then, when recording it's taking the ATSC raw data and transcodes it immediately to mpeg4 HLS to be available for streaming to your end device Tablo app.