What does the 8,000 Hz polling rate actually do?

It reports key presses to the PC up to 8,000 times per second instead of the usual 1,000. That cuts input latency, but the gain is small and it uses more CPU than a standard polling rate.

How is this different from a normal mechanical keyboard?

The magnetic switches measure key travel rather than using a fixed metal contact. That lets you set the actuation point and enables rapid trigger, where a key resets the moment it moves up.

Can I change how far a key has to travel to register?

Yes. Hall-effect switches support adjustable actuation, and the 0.001 mm resolution means the setting can be tuned very finely in the keyboard's software.

Does it work with consoles?

It is a wired USB keyboard, so it works on a PC. Console support depends on the console accepting a USB keyboard, and the tuning software is aimed at Windows.

Is it good for typing as well as gaming?

It can be, since you can set a deeper actuation point for typing. The compact layout and linear magnetic feel still suit gaming more than long writing sessions.