Doh!
Now I understand what these keys are for, and why some people say they entered the key and it worked.
By way of explanation, let's enter the wayback machine to the release of Windows 8.1. When this was released, many people wanted to install clean, but didn't have an 8.1 key, they only had an 8.0 key. If you tried to enter the 8.0 key in the prompt you get when you boot from media, it would not allow you to install. So Microsoft released "generic keys" that would allow you to install. These were 8.1 keys that passed the basic "boot key" check (this doesn't check if the key is valid, only that it is of the correct type, since when booting the CD you don't have network access).
After you had Windows 8.1 installed with the Generic key, you could enter the 8.0 key in the "Change Key" section, and that would get applied and then activate correctly. You couldn't use the generic key to activate.
Now, back to Windows 10....
There are three ways to use ISO media to install, one is to upgrade directly through the Media Creation Tool, the second is to create the ISO media, mount it, then run the setup from within windows.. The third is to boot from CD and run the setup.
Now, here's where people are running into trouble. If you boot from media, and use the generic key, this will allow you to install Windows 10. But it won't activate! Unlike Windows 8.1, you can't change the key to your Windows 7 or 8.x key and get it to activate. The only way is to do an upgrade install, by using Windows Update, or the first two methods I mention above.
If you choose to do a clean install when you mount the media and run the setup program, then it will *NOT* accept the generic key, because at this point it will try to validate it against the activate servers because you have internet access when running inside your already running Windows.
This finally explains the apparent incongruity of some people claiming they could use the generic key when installing, and other people were not able. Either way, using that key is ineffective.
So, you may ask, what is the point of the generic key? Well, there is no point for anyone upgrading. However, let's say you want play around with Windows 10 before upgrading, or before buying a full key. You can use that key to install and play around with it, it will eventually expire though as using the OS unactivated is treated like an evaluation version.