Yes it pretty much does everything the Receiver does!
It will drive 1 Motor exactly as the RTMotion Receiver MK3.1 does.
There will soon be a 3 motor version MDR-MB, then it'll do literally everything that the standard Receiver can do. The standard Receiver MK3.1 is a little cheaper and in some cases more compact, especially if you need 3x lens motors, so it will stay "current generation" and continue to be sold!
Note that the LATITUDE uses different cables for PWR and CAM.