I didn't know this technique existed at all, but it's really cool. Anyone have a good explanation?

Here is one that I found: https://scaniverse.com/news/intro-gaussian-splats

Seems to me like it's a way to capture a bunch of 2D pictures of a scene, but instead of turning them into meshes, you position them in a 3D point cloud but then use algorithms to calculate their position, angle, field of view, etc. and them seamlessly blend them together with other nearby pictures to create the illusion of depth. Is that right?