As I get more into QGIS scripting, I refer to the documentation often and usually without success. I have trouble deciphering how to interpret the classes, etc.
I found this thread which is really the same question and it helps a bit but I am still confused.
Let's take the QgsLayoutItemLegend class for example from the documentation:
Now, I think I understand that in order to create a legend item and add it to my Print Layout, I would do something like this...
QgsLayoutItemLegend.create(legend)
In the QGIS python editor I am prompted to include arguments for the function, which is helpful. It looks like this:

I look in the documentation for the QgsLayoutItemLegend.create() method and see this below, which I cannot make sense of:

I see nothing about the arguments this method takes in the documentation.
How do I create a Legend using QgsLayoutItemLegend?