We use to call that blacktop and is excellent for light duty traffic.
BST is essentially a more advanced process than the older types of blacktop. I’m no expert (obviously); but, I do know that it works, and that it’s way better than bare gravel. It’s also better than old-style tar surfaces. The fact that it often costs less than bare gravel can make it a no brainier. (Asphalt or concrete is more cost-effective, and better for high-traffic roads. Gravel is cheaper for seldom-used back roads. BST’s sweet spot is secondary roads with low to moderate traffic.)