Definitely more philosophical. It was constituted following a national canvassing of demands from the townships and homelands. So it was like the consolidated voice of a large percentage of the oppressed.
At the time, non-whites had incredibly limited political representation and so it was a major act of defiance to demand the things set out there. In fact the huge meeting where it was proclaimed was broken up by the police on the second day. A few years later the organisations involved would be banned.
Ever since it served as the foundation of the struggle (for most) in the sense that it showed what was required, culminating on its influence on the Constitution.