Yes it is a ratchet hob, they only cut a very small range of tooth counts to the correct profile.
You will see that the face of the cutting profile is slightly convex, but when the hob is in action the ratchet tooth is produced by a rolling action and so ends up flat when used for the correct tooth count.
I have some of these type of hobs for my Mikron 112 hobber, they are not always marked with the tooth count and a bit of trial and error is need to establish what you can use them for.
To be honest for most of the ratchets I have made for my musical boxes and clocks, I still do them by the good old one tooth at a time method, but if you have a need for a large quantity of one particular size then hobbing is the way to go.
Phil