Customer here, you're tripping. Recall provides transcription as an auxiliary service, not their core value prop.
Recall is, at its core, an API for bot recording. As someone building an application that relies heavily on conversational data, recording meetings is really important. Recall makes that process as easy as an API call, standardized across various meeting platforms. It's a huge PITA to set up infrastructure to get bots to join meetings that handle each platforms' proclivities, encoding and storing video data, etc.
The transcription service is just something they do to make transcribing recordings - one of the most common first post-processing steps for any conversational data - easier and lower friction.