It says the game must have been running for 10 minutes before the replay is available. I don't read that as a 10 minute delay, I read that as you can only spectate the second half of the match. Just how the tournament streams actually work where it only shows you the late game. Not sure though, time will tell
The replay itself is delayed by 10 minutes, so everything available to your client will be 10 minutes behind the live match.
As soon as the match has completed, the entire replay becomes immediately available.