It is! Its goal is to Warp two oscillator signals that you provide into its two inputs, but it also has an internal oscillator, so you can get a ton out of it with just one external oscillator. It can be a sine, saw, triangle, pulse, or noise oscillator. That internal oscillator can be crossfolded, ring mod-ed, etc. with your external input.
If it’s in oscillator mode, Input 1 becomes the V/Octave input.