OK, how the fuck do EV's and IV's work in this game?

I know they do have IV's but they're unused, and iirc you can get the typical "3 or more" perfect IV's from things like alpha's etc, and it's displayed by their effort points being at 1-3 on capture (presumably 3 being 31 in that stat fuck knows for the other two)

Now EV's kind of confuse me, because you can "max" everything. Does doing that equally distribute EV's accross the board? If so does making some 0 improve other stats, allowing the typical equivilent of 252 on it?

I know the system is different at least on a UI level, but it would be nice to sort some mons for when they can be transferred one day. Is the whole thing just incompatible or is it just too early to know?