No, it's not the blue plastic photo holder. It's an album with the photo sleeves already in it.
A friend of mine used the CM Milestone Picfolio album in cream for her wedding photos. It came out very nice. She typically is a traditional scrapbooker so the Picfolio style was a little different for her but she enjoyed doing the album. On some pages where she didn't have any journaling to do, if there was an open sleeve section she did an embellishment.
I also know of a Special Olympics athlete who is using the CM Milestone Picfolio for his pictures. Doing an album in this manner is achievable with his limited hand mobility. I love how CM is able to fill the needs of many different types of people with this album.