Yes, it has options similar to the Web Developer extension for Firefox, such as disabling specific stylesheets, resizing the window or outlining block level elements (which I've always found to be very useful).

It's not as nice/refined as the Web Developer extension of course, for example that 'outline block level elements' readjusts the whole page which it does not do in firefox (which is why I found it useful in firefox, it didn't actually add a 1px border).

So yes, a bunch of bullshit that was nice in Phoenix 0.3 back in 2003, but has been useless since the dawn of Firebug and rich web inspectors.

You have a nice interface to the DOM. Use it, not some mediocre bundle of bookmarklets as a browser extension.