Not exactly - it's kind of like executing a C program in a sandbox. It intercepts all memory allocation requests and accesses, and can tell you if you access memory you did not request.
But how C programs behave regarding memory is well known and understood. However, it does require understanding basic memory concepts related to the operating system itself.
So, someone else dug into the details of how C manages memory and wrote some code to help people find problems; makes good sense.