That was my impression as well, though it seems to be slightly more sophisticated in that it is designed to take-off and land on its own. It potentially could be air breathing given it looks like it has some sort of intake on the bottom, but given the description on the plaque you provided it looks like it can use various take-off methods (meaning various propulsion systems).
I am interested to see if the MD-22 is explored further and interested to see how the Talon program (Talon-A and Talon+) proceed.
While I was typing this I decided to check in on Hermeus to see what they are up to, and it seems they have just announced some interesting changes to their vehicles!
Quaterhorse (Mach 4 TBCC turbo-jet to ram-jet engine)
Darkhorse (military UAV capable of "hypersonic" flight - no engine type or specifications)