Except that no view-dependent effects that would benefit multi-view consistency are present in your splats.
So yes, it's very much like the RGB-D visualizations from 10 years ago, just with splats instead of points.
Here is an example of a view dependent effect produced by LiveSplat [1]. Look closely at the wooden chair handle as the view changes.
I'll concede that ten years ago, someone could have done this. But no one did, as far as I know.