More than that, they are 1cm^3 for the base unit and the orange rods are 10 cm's long. The precision is pretty good on the ones I had growing up. 10 of the long rods fit a meter measuring stick to within the precision of the markings on the ruler.
If you wanted to use them to teach continuous variables, it would be easy to do so by analogy using the volume of the numbers.
Oddly enough dominoes somehow lodged themselves in my mind though, I still picture the number ten as two sets of five dots arranged.