You give it a dynamically linked binary and it will make a directory that has all the dependencies (recursively). It also fixes the ld interpreter and libc paths so it will not segfault

It recursively calls ldd and copies all the required .so files. Then, it also needs to patch up the ld interpreter so it will not try to use the system ld rather than the one copied from the source host.

For example, making a redistributable imagemagick:

./lmao.py /usr/bin/convert

Yes and please email me so I can short your company stock. (Not financial advice btw)