So im thinking of using this but don't know much about it. Im guessing I can load all the music I have to the cloud and it saves and stores it for me. Once this is done, the family i share with can download/stream anytime they want? isn't this the same as family sharing? I guess Im not sure what the difference is
All iTunes music purchases are in the cloud and available for Family Sharing, with or without iTunes Match.
iTunes Match allows you to take all music in your library not purchased from iTunes (mp3s ripped from CDs, purchased from Amazon, etc.) and uploads them to iCloud. If the song/album is available on iTunes, iTunes Match will give you that version. In most situations, this gives you a better-quality file. Songs not on iTunes (like an obscure live version of an album) will be uploaded directly to iCloud. You can upload up to 100,000 of those. Songs that are matched or uploaded are NOT available for Family Sharing... only iTunes purchases.
iTunes Match also gives you access to iCloud Music Library, which means your songs and playlists are synced across all devices logged in with that Apple ID. They can either be downloaded or streamed from iCloud.