Yep. It's more like rummaging a car trunk than anything. There is another, smaller, compartment in the front that isn't shown, with an optional divider between the two. I use the front compartment for damp items, and items that can get wet without it mattering much.

This may seem trivial, but another thing I'm pretty happy about is that lack of dry-bag smell. Ortlieb panniers tend to stink after a lot of use. Clothing coming out of an Ortlieb pannier smell like rubber and whatever odors have been absorbed by the waterproof material. The trailer is not 100% weatherproof, but the upside is that it can breath a bit.