I believe the node has crude support for writing output segments to a filestore, but as there is no built-in storage, the full VOD capabilities still remain an open design question, relative to the full live stream support.
Check out this post: Grant Node Committee Call Recap - 06.05.20, which highlights that Buidl Labs and Basement studios built a VOD integration. Maybe they can chime in if they have open sourced the code yet.
Technically however, yes the B node receives back transcoded outputs from the network, and then can do what it likes with them, including write them to an object store like Swarm, construct a manifest URL for playback, and write that out at completion of the transcoding.