Smoked meat doesn't require cold storage.
So, this should produce food, not meat

they use the wood to beat the cows into a pulp, so more meat (I think)

It is kind of a side grade. Normal slaughterhouse take take 1 cow and turns in to 0.5 meat.

This takes 1 cow and 1 wood to give 0.8 meat. So you get more meat out of the cow but you also need wood. Note that wood is cheaper than cows. You will be up a little bit of money in efficiency. The building is small so you won't be able to scale up you operation. In the end it is just a trade off.

soo in comparison to normal slaughters how is this better/worse?

Like one requires just cattle to produce meat, this needs both cattle AND wood.