Does it have the leading drag handle? That's the brilliant part. My ancient copy of Photoshop has a smoothed brush; but it doesn't have the leading drag handle.
Kind of. You can click a gear and set various options on it, including a "pulled string mode", which works similarly to this, where it has a "smoothing radius" that movement within will not change cursor direction, and then a "stroke catch up" mode where the stroke is at a somewhat constant speed, regardless of how you move your mouse.