Yes, that's exactly what it means, and very effective it is too. It makes for a model that is more affordable, and many who might be put off by the somewhat higher prices of many G1 models here in UK are now thinking hard about getting itnto this area of modelling, particularly with the inrush of fine brass models, albeit electrically-driven, from Bachmann and Accucraft. I saw this loco running at the Fosse show in april last year, in raw brass, and then again at the G1 60th anniversary show, and it was a winner. Got a great chuff too! After redesigning the cab interior so's folks with fingers rather than tentacles could operate the controls it came good for the G1 show. The level of detail is extraordinary, and it really captures the essence of this popular little loco. It sells here for £1799.00.
All you need is two or three three nice maroon passenger cars, or some of Northern Finescale's beautiful wagons [now available ready-built, BTW] and you have typical suburban train - running the loco in either direction is what was intended in real life anyhow.
By the way, it is the ONLY ready-built model of its kind. There are a couple of kit-manufacturers [YOU build it] and a few live-steam builders [THEY build it for you], but you will not even begin to have paid for either for the price of this little loco.