In essence it seems to be 'filtered permeability': everyone can still get everywhere but people in motor vehicles need to take a longer way round and can't use the whole road space. Implementing it on an area of several blocks rather than one junction makes it akin to the Northern European 'woonerf' adapted to Barcelona's architecture and townscape, but – positively IMO – they haven't once mentioned 'Dutch' and they're doing it for residents, usable space and breathable air, not pesky cyclists.