Supposedly according to the reading material on the flash cart, yes? It seems like you just need the game file on the SD card and to put it in however cycling through multiple games on the cart is gonna be bad cause it looks like their isn't a loader in-between but you need to eject the card and put it back in to cycle to the next game you have on it.

The R4 was the pinnacle of my gaming career. I had so much fun with that. I don’t think anything has come close to scratching the itch the same way. I think it meant a lot to me, too, because I got the DS for free (online, long story) and paid for the R4 chip with money from my first job.

I still have my TTDS card from way back in 2005. It still works with the 3DS thanks to a homebrew app.

I could be wrong, but I feel like the initial work of putting the system in recovery mode via tinfoil/modchip would still be required, but after that everything could run off the cartridge