Sort of - it’s the core engine plus the new WebGL rendering back-end compiled together. Support for a lot of auxiliary features has not been compiled in, such as loading PNG or JPG files, freetype fonts, or Python bindings. Adding those is bound to increase the size, but I’m sure there are ways we can optimize (compressing the js file should help a lot already).
It’s just a little pet project for now. I’m about to commit it to a Git branch so that others can contribute. It could be added to a future version if it’s improved to the point where it’s generally useful and stable.