That seems roughly equivalent to taxiing in a plane, something which isn't handled by a plane's autopilot. After using it, it feels very intuitive to understand what it can and can't handle, and it does degrade very gracefully (beeps at you and says 'take steering wheel to maintain speed' if it starts to get confused.) It works very much how I would have expected knowing nothing more than the name.

I can't detect red lights unless the car in front of you stopped for one. So not really.