I've been programming for 20 years and yet I have no idea what this does. Can someone ELI5?
You feed in Rust (a flavor called DSLX) or C++ and it generates code for your FPGA (in Verilog). You then upload this compiled "bitstream" to your FPGA and now you have something akin to a custom microprocessor, but running just your program.
Note that there are differences though: Seems no type inferrence, for .. in, different array syntax, match arms delimitered by ";" instead of ",".
But it has a lot of the cool stuff from Rust: pattern matching, expression orientedness (let ... = match { ... }), etc.
Also other syntax is similar: fn foo() -> Type syntax, although something similar to that can be achieved in C++ as well.