Not quite. It's true that, except for two short blends, the camera location and direction and framing don't change, and there's almost no action for the whole time. But the image is always subtly changing. Trees blow in the wind, there are waves and birds, at one point a soldier hikes across the landscape, a fire starts with drifting smoke and flame, and lowering clouds completely obscure the mountains seen in the background initially. And although it's hard to say for sure, it's reasonable to suspect that the camera focus changes very slowly, and even that some sort of sunset or moonrise has been captured.