Yes that entitles you to a lot of software, so it is a good deal for professional use.
If you are just curious on the software side at home, Hercules is an amazing project.
For students IBM does a "Master the Mainframe" contest where you can get remote access to an environment and see what it is like as a user and developer.
And "Master the Mainframe" is even open to non-students (look for "Learning System"). Comes with material and tasks to work through to get acquainted with the mainframe.
If you are just curious on the software side at home, Hercules is an amazing project.
For students IBM does a "Master the Mainframe" contest where you can get remote access to an environment and see what it is like as a user and developer.