The “Tempo” slider sets the speed from 50% to 200% while the key stays the same: voices don't drop into a growl when slowed or squeak when sped up.
Slow down a tricky guitar or piano part to learn it, rehearse choreography at half speed, or match a track to your workout pace. If you've run “Find key & BPM”, the new BPM is shown too.
After that “slowed” sound, where the song is lower as well as slower? Move the key down 2–4 semitones too.