From what I can see, inside each "room" it's basically a traditional teleconference session, with the added wrinkle of having an audio feed in the room from every other room at reduced volume.

Spatial.chat and my own Calla.chat provide a completely different interaction metaphor. The room is solitary, but all audio in that room is spatialized. Spatial.chat does volume scaling, Calla.chat does full spatialization, including support for HFRT.