No. It files all your emails that it classifies as promotional but non-spam. That won't include Google Offers and Zagat if you're not subscribed to Google Offers or Zagat (for me, it's mostly events & careers newsletters). It's just an auto-categoriser (a new UI for smart labels), it doesn't invent new emails that weren't there before.

Several people in this thread have already explained this. If you don't believe us, go to gmail and switch to the new view - there doesn't seem much point in doing competing close-readings of a short blog post when you can see how it works first hand...