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You're asking about how the setup works. Yes, you're generally correct. The 10Gbps SFP+ port connects to your modem via fiber or Ethernet, and the port labeled 2.5GbE RJ45 sends the data over a switch using the same 10Gbps link.
You can use the PoE components for your ISP connection and your switch connections without needing to modify your ISP setup.
You can set up the WAN line to connect to any of the front ports, including the 1 Gbps ones. Placing two 10 Gbps devices in the SFP+ ports would allow them to communicate at 10 Gbps directly without needing a separate switch. This works well if your ISP offers 10 Gbps speeds and you require one of those ports for WAN access.