Further down the page, they explicitly call out CNC applications. ("IQ motors are smoother, quieter, and more efficient than stepper motors, and they will never skip a step or get lost.")

They are basically a stepper motor from the application's point of view, but with some of the advantages of a servo, as far as I can tell.

(No affiliation, just curious if these guys are onto something useful.)

Just judging by the torque specs and comparing to a nema23 stepper, seems like it needs an order of magnitude more torque to compare. Note that in the comparison chart they compare to a nema11, which is tiny compared to the steppers used in most hobby cncs.