Yes. Well exectuted, taut, but simple and unadorned. It is one of the differences, but Rolex do not do glidelock on most things, and you're right, the price differential precludes it.
I have just re-measured the clasp. The removable links are about 10.3mm from pin to the same pin on the next link.
The adjustment holes are 2.8mm apart.
So, your adjustment can go
0, 2.8mm, 5.6mm / / 7.7mm, 10.3mm
So the scale is continuous, a position less 2 adjustments holes is actually shorter than removing a link and being at the other end of adjustment.
Dave