The XCM contained in this proposal does request opening a channel to Moonbeam. Once approved by the governance body, the channel request has also to be approved by the governance body of Moonbeam before it becomes active.
Opening channels and reserve asset transfers in both directions have been tested on Moonbase Alpha Relaynet.
The XCM within the calldata of this proposal is sent to Polkadot, which then executes the calldata 0x3c00d4070000e803000000900100 that is contained within this XCM. The dispatchable call that is invoked on Polkadot is the following: hrmp.hrmpInitOpenChannel(2004, 1000, 102400).