Yes.. and it seems like it would be a lot of Bondo too. It would probably work well if you're using it to fill in a hollow piece. It's not very heavy once it sets either.
I just used some Bondo today for the first time and it really does set fast!
The description of it being like cake frosting is very accurate! When the two parts are blended together it takes on a consistency almost exactly like cake frosting... and when it sets it's like frosting that's been left out for a few days... a bit brittle... but easy to sand. It's really just intended for patching holes and cracks I think.