The whole iTunes Match and Apple Music thing is confusing. Apple says they are “independent but complementary,” and, on first glance, they look quite similar. But when you look closely, they are very different.
Both match your iTunes library and store your purchases. Both allow you to access these files, and listen to them, on multiple devices. But with iTunes Match, when you download a matched or uploaded file, you get either the iTunes Store matched copy, or the copy that iTunes uploaded of your original file.
When you match and download files from iCloud Music Library (without having an iTunes Match subscription), however, you get files with DRM; the same kind of files you get when you download files from Apple Music for offline listening.
This means that if you’ve matched your library with Apple Music and iCloud Music Library, you need to keep backups of your original files. If not, you’ll end up with files that you can’t play without an Apple Music subscription.
So think carefully if you plan to use iCloud Music Library.
Note: iTunes Match is currently MIA, at least for people who had subscriptions before Apple Music went live.