it is a single engine that is modular, allowing you to create / delete DSP blocks and connections between them on the fly from lua.
(OT)
you can, in fact, also change engines on the fly within a lua script, though this isn’t something that has been demonstrated to date - it would bypass/complicate much of the infrastructure that makes writing scripts more “convenient” - e.g. the init method (which is called after the engine is loaded) and the auto-population of engine “methods” such as engine.hz(), &c