There's a thread in the Daz forums that ripped this apart. I don't think that Daz has real programmers anymore and there are no plans to write a Studio 5. It's nothing but smoke and mirrors.
It appears to just use existing morphs from characters in the store to make you think you've made something new. You'll be charged a fee for your character and they'll pay the PA's whose morphs where used after taking a large cut for themselves.