Yes, that's all it is, a cheap indoor OTA antenna. Yes, it will receive hundreds of stations, just not at any single location.
As much of a scam as that "Rabbit TV" USB device that promises free TV over an internet connection. AKA a small flash drive with links to free streaming video sites you can reach with any web browser.
These kind of scams are nothing new, BTW...
http://milk.com/wall-o-shame/dish.html