Yes, correct, but let’s quantify things a bit, shall we?
R values for common building materials are listed here. Wood isn’t listed, but this page says softwood (like what these wood bricks and all common construction lumber are made from) averages 1.4 per inch. Right off the bat, and pace @heng, we see that that’s as good or better than just about any common construction material that isn’t actual insulation.
Note that stone, brick, and concrete are all really crappy insulators, around 0.2 per inch for brick and cinderblock, (values in the table are not all per inch so you have to divide). Also note the huge difference between an insulated wall studded with metal studs vs an identical insulated wall studded with wood. Metal conducts heat really really well, which is why you don’t want to use metal studs on exterior walls.
Cellulose isn’t listed, but this page says 3.5 per inch for loose fill which looks like what they’re pouring into the wall cavities in the video. So if those are 10 inch thick walls in the video, they’re made up of solid wood cross pieces at around r-14, plus insulation filled cavities at around r-30 (r28 for the fill plus some for the inner and outer wood). Bump those numbers up if the walls are closer to 12 inches thick.
I suspect a major factor in their calling these houses passive is the way their walls are made up of tight fitting interlocked pieces, so you have essentially no air leaks in the wall.
