OK, these are my words, interpreted from the larger text.
First the standard bits:
This is a VE amp as used on aux sends, where turning down a bunch of knobs to avoid overload would be a hassle.
We have a hybrid summing amp using discrete transistors on the front end to give lower noise. Using two transistors in a balanced config. (as done here) will also help with power rail noise without resorting to elaborate de-coupling. The biasing is also much simplified over using just a single transistor.
The feedback for the whole amp must return to the VE transistor to prevent large current swings (which would result in distortion) so we need to invert it first, which is what U1B does.
What’s not shown on the pic I uploaded is the bus feed resistor which, in this case, is 22K.
So at lower settings of RV1, the gain of the amp as set by FB resistor R3 is -6.8dB which should avoid headroom overload.
When RV1 is turned up, a positive feedback signal is sent to U1B’s non inverting input via R11 & R12, and the partial cancellation decreases U1B’s output so we have less feedback and mo’ gain. We also eliminate the usual post summing amp ‘fixed gain’ amplifier so noise is eliminated there too.
To put it into perspective, this particular design by Doug Self and Gareth Connor was used in the Soundcraft Delta which won a British Design award in 1991. I daresay there would be the usual changes and improvements if done today in 2020.