Actually what these guys don't mention is that the Raspberry Pi is plugged into a relatively huge USRP, because that kind of blows their whole "Look how tiny it is" PR out of the water.
The host part of OpenBTS is not just call control(Freeswitch or Asterisk provides most of the call control part).
OpenBTS is a software defined radio and really does most of the processing in software. The USRP provides the radio interface, up/down conversion between baseband and carrier frequencies and the analog/digital conversion.
The USRP just sends/receives those samples without caring or knowing about GSM. Samples are processed in software on the host, where the GSM stack is implemented.
No, OpeBTS does the GSM related DSP. You get a stream of I/Q samples from the USRP, which is more or less just the digitalization of the baseband. OpenBTS carves the time slots and "frames" out of this, does the GMSK de-modulation and similar stuff.
Note that the lower layers of GSM is very different from e.g. ethernet. Once you get past all the very gory stuff up to layer 2, the concepts are pretty much the same though.