It is an open source looper that works well is if you know exactly what you want to do. Personally I used to make the scene with a FCB1010.
Once properly configured, yours look good summary RC50 compared to this system.
8 32bit stereo tracks, with the possibility to synchronize different length loops, overdub, change loops on the fly, subgroups, each track can have its individual output ext ..
You can insert it blugin on cubase, ableton live, one studio (I tested on mac and pc)
Like almost everything is customizable; develop good config takes a long time.
This is much better than for ableton live because everything is controllable by foot without having to watch the screen.
To write scipts (this is not required but it does not open a lot of possibilities) must have database programming.