After reading the article for about 15 minutes, I finally understand loeb and it's pretty cool! It's an easy way to actually run a list of lazy-loading statements (functions) in a way that all of them resolve to their eventual values.
That being said, it feels like the function is both too abstract to understand, yet not effective as an abstraction that I can apply to other problems. For a few contrasting examples, reverse_string is not a very abstract function, as it operates on a very concrete operand and produces an effect that's intuitive outside of mathematical theory. On the other end, a hash table is very abstract, but we choose to learn it because it's such an useful solution.
As for loeb, I only understand how to use it to create a spreadsheet, yet it's clearly meant for more than that since it's given such an abstract name. It's also not called evaluate_lazy_functions_on_operands either so it must be more than that too! Is there something I'm missing?