That's a very generous title for what is a basic linked list with some metadata and actual data per node/link. But yeah, in a sense it is.
It's worth noting that it is clearly sequential in nature, whereas a filesystem can typically locate files at random pretty easily and efficiently. Filesystems usually don't need to potentially traverse their entire contents to find what they are looking for - libcal may well have to.
Now that libcal is open I may well just write a program to simply allow perusing the data and viewing the data of each block. Unless someone's already done it.
...and if I have time. Given how long it took rdmod to reach the full functionality I wanted out of it to begin with, there's no guarantee I will have that done any time soon - and in fact, I will explicitly say I will do my best not to for a while because I just used all of my free time these last three days or so doing just rdmod work and I have to make sure everything else is taken care of.