Good! Say that! Then the entire protocol and its description can be reduced to "this is a cache of ephemeral public keys and messages encrypted using them".
I know that doesn't sound quite so impressive, but that's because it isn't.
Cryptographic protocols are not supposed to be impressive. But on the other hand your shortened description describes the main difference between Signal and traditional OTR, it does not describe how the protocol works after you get the ephemeral key of the receiver.
Additional and to some extent non-trivial difference from traditional OTR is in how these ephemeral keys are used in key exchange, whose result depends not only on DH with ephemeral keys but also on DH exchange that mixes ephemeral keys with long term ones. This causes that the ephemeral key of the passive side does not have to be signed and allows anyone to produce arbitrary session transcripts, both of these points allow significant reduction of size of the exchanged messages.
So: making the whole thing completely public only enables adversary to match session initializations with receivers, which the server can do by definition as it has to route the messages to correct recipient. (In the case without such central server, anybody observing the traffic could do that, as another role of the central server is to mask sender addresses on the lower protocol layers)