Yes you're right in that it's not real ASCII, but more ASCII-esque. I took some artistic liberty to do everything on the GPU, if I had done true ASCII I would have had to move data back to the CPU and render the glyphs there. However it was too slow and didn't have the desired effect I was seeking.

I am considering building out an additional feature set where it allows for true ASCII rendering, but we'll see if I get around to that.