Totally, true bypass loop pedal.
It basically switches the loop (where the 2 pedals are in the diagram) in and out of your signal, so when off, the signal is effectively going straight through the looperl and going nowhere near the 2 tonesucking pedals. The benifit of the looper is that you can have tons of pedals in the loop already turned on, so you can go from clean bypass to loads of fx with just one footstomp, no jumping on 30 pedals at once.
Either that, or get the pedal modded for true bypass so it's not hurting your bypassed tone.
Bear in mind that you're using a 2nd guitar cable/lead in the Guitar>BD1>Amp setup, the further the signal has to travel, the more signal quality will be lost.
