Transfer Speed
Local loop · refreshes every second · toggling asks for macOS password
Disks · plug in a USB stick or drive to see USB 2, USB 3, or Thunderbolt
Thunderbolt 3/4 is 40 Gb/s (bits), not 40 GB/s. Mac-to-Mac copies are often 0.5–2 GB/s. A USB 2.0 stick maxes out around 20–35 MB/s. The disk section names the link.
Transfer
Local on the left, peer on the right. After you plug Thunderbolt in, it connects by itself — no IP to type.