How to use Consume Movement Input Vector node to add movement to a basic pawn?

Sorry if this is a dumb question but I couldn’t really find anything on the subject. After watching Zak’s Blueprintable Components video I was a little confused on how he used the node to get his hero ship pawn to move. How does it interact with the controller and utilize Axis Mappings? Here’s the setup in his video:

I really like the idea of having a clean, basic pawn with a very simple custom movement component without having to resort to default pawn or a character blue print. Can anyone point me in the right direction?

I ended up copying the movement in the TwinStickShooter template since it seemed to do exactly what I needed. It does not, however, utilize the Consume Movement Input Vector node, so I still have no real understanding of its purpose. But in the end things are working how I’d like them to.