By and large. However, it's also Dave Gilmour and Nick Mason jamming with the ghost of Richard Wright, who was fired by Roger Waters prior to The Wall and rehired by Gilmour and Mason for Momentary Lapse of Reason.
There's no doubt about it - it's fogey rock. There isn't an ounce of youthful rebellion in it anywhere. But it's tight, professionally-produced geetar lounge music and on that level, it performs exceptionally well.
On a completely different note, I play this one OVER AND OVER AND OVER AND OVER AND OVER when I run.