You're probably thinking of a hard real-time RTOS with time slices and WCET constraints.
For soft real-time, you basically only need low latency.
Threads with priorities, synchronization primitives and some way of handling interrupts is generally considered good enough.
From the description, this sounds like the kind of RTOS that runs most embedded RT applications currently if perhaps a bit heavier in features than the average with filesystem and networking support.
Can someone explain this whole boondoggle with RTOS and latency means in practice?
Why would someone make a context switch HIGH latency? That defeats the purpose.
The distinction between hard and soft RTOS explains my confusion. Thanks for the heads up!