Not quite. As I understand it, the hardware rips disks and encodes them in proprietary SPS flux image formats (.IPF, .STREAM, and .DRAFT) subject to a very weird license agreement.[1] SPS does not assert ownership of the encoded content but does assert that content encoded with their software can not be used for commercial purposes. I suspect this “bit coloring” is at the root of why the Internet Archive made the decision to no longer accept Kryoflux based images and why it is not a good candidate for archival purposes.

[1] https://www.kryoflux.com/download/LICENCE.txt