AFAICT it's not, the public blockchain aspect is just the lino coin's ledger. It's a bog-standard centralized service, but with a (also-centralized) cryptocoin to go along with it.
A sort of halfway-reasonable design would be putting a minimal amount of content metadata in their chain and then storing the data on IPFS, but even that would be inferior in most ways to just using Freenet, which was released over a decade ago. It's annoying to see these "blockchain!!!" people poorly reinventing the wheel.
(BTW, I wrote a while ago about an idea for censorship-resistant datastore which would be suitable for this sort of thing.)
If they placed links in the coin message area, to locations where their material is located on the Net, wouldn't this work? Or am I misunderstanding the whole thing?
https://bitcointalk.org/index.php?topic=5129949.msg50564563#msg50564563
Is this where to store? - https://ipfs.io/
Is this a good explanation of why? - https://ipfs.io/ipns/QmW6iyZ27fYAwd15CQ9nDkLhZPa5QsfbZ8EuSoncHgwA8Y/ and https://ipfs.io/ipns/QmW6iyZ27fYAwd15CQ9nDkLhZPa5QsfbZ8EuSoncHgwA8Y/videos/
EDIT: Best explanation video - https://www.freedomsphoenix.com/News/259055-2019-04-07-interview-1435-declare-your-independence-with-ipfs.htm