Yes, it's a 2-panel piece of foldable, rigid (but cushioned) material attached to the case interior that stays in place with a bit of attached Velcro. You can angle it as desired. Of course, when playing on any stand, you need to use wireless controllers.
I'd say it is very useful, for playing on say, a tabletop or airliner tray table. Whereas the Switch has a built-in kickstand with only one viewing position, with this you can lay the clamshell cover open flat on the table surface to play at more of a recline, or rest the cover on top of the console at a more upright angle for more discreet gaming and for some shading from ambient light. I wouldn't recommend resting the cover on a plugged-in headphone cable, however.
The stand also secures the console inside during transport by covering the screen with its non-abrasive folding panel, using another piece of Velcro to hold it in place.