Hi. Yes we can say so because it (similary as Keychain) allows to store your private keys and then use them to sign Hive transactions.
The benefits and advantages over other wallets being browser extension based is, that our wallet uses cloud storage (associated to the space managed by you: part of your Google drive). So once you analyze this single opensourced and I hope quite well technically described solution, you can use at any app which supports it, any device, any browser. No more multiple copies etc.
Earlier mentioned article explains it in deeper details.