Not quite. The data structures for the "database" part are more complex than a single json structure. Each update to the database is an "individual json" which get linked together using an append-only log CRDT (https://github.com/orbitdb/ipfs-log) and you'd essentially serve that log. So instead of "one big json", it's "many small jsons" and the state (view) of the database gets calculated from those small jsons.

Thank for clearing that. I think I have to read the docs more carefully