Its not a proxy, it requires that you build hooks into your http engine (OkHttp/HttpUrlConnection) to forward events to the NetworkEventReporter interface.
The biggest difference is you dont need to add debug code deploy, you just connect.
For things like the network traffic it is really hard to see request/response for a particular thing.
For the dumpers - those are basically a main method inside your program that you can run whenever. Its a nice way to change (or dump) state of the program, similar to adb shell dumpsys, but also allows a richer interface for changing state.