It can't be a real time loop station for one big reason. You can't save a recorded loop or any recorded sample audio without stopping playback.
I use the loop recorder a fair bit, but you have to stop to save what you have unless you want to keep layering. If you have a sequence playing in the background, that has to stop to save the audio.
It seems to be a hardware limitation, as I have asked jj a bunh to let me save samples during playback. I still secretly hope he does it in th next big OS.