[nobbis]

Correct. It stores a volumetric signed distance function in a tree-structure, which makes mesh generation (and raytracing) simple and fast.

[druidsbane]

Can it stitch together much larger captures? eg: a building exterior and interior?

[nobbis]

You can download and manually align separate captures to create a larger mesh but, no, Forge doesn't do this automatically yet.

On the roadmap, but won't be in the first version.