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The large ink reservoirs mean that you buy ink in bulk and at very low cost compared to buying cartridges, where ink costs more than the finest champagne!
Printer Manufacturers make their money from "giving away the razors and selling the blades". They make tiny margins on the printers themselves, then cash in by selling overpriced cartridges, using the ploy that you'll invalidate your warranty if you use other cartridges or inks.
These are just another name being used for Continuous Ink Systems. Many names have been coined - no doubt by the marketeers - to describe the same thing:
Continuous Ink System - CIS
Continuous Ink Supply System - CISS
Bulk Ink System
Refill Ink System
Continuous Refill Ink System
Self-refilling Ink System