Yes, not magical. Basically like deep sand beds and inside live rock.
Key for this type of Nitrate removal is to have two layers.
The outer oxygen rich layer has bacteria that convert ammonia -> nitrite -> nitrate.
In doing so, the also use up the oxygen.
That leaves an inner area where different anaerobic bacteria convert Nitrate to simple nitrogen gas and water.
2 NO3− + 10 e− + 12 H+ → N2 + 6 H2O
Having a nice uniform optimized pore structure like they advertise could help.
So it MIGHT be better than a DSB or live rock. Or not.
It certainly seems more convenient, especially for sumps. That might be a real win.
But it looks nowhere near as nice in a display tank.
A downside is that it only gets rid of Nitrates, not phosphates.