It's a good-enough description of SVN, where branches exist in the same directory tree, commits are tied to the branch by way of the path, and the merge tools are "merge this batch of commits from branch A to trunk" (you don't have to take the whole branch at once).

One of the biggest hurdles my co-workers have had learning git after having used svn for years is the "bucket of commits" mental model they've built up for branches. A common question is how to merge a single commit.