That's pretty much the case for the currently used fluid in the field, yes, with the added proviso that it also can contain carbohydrates and other ingredients to try to ward off shock. It does not carry oxygen at all, and that's proven fatal every day in America - again, it's used because doing nothing will result in death, while this gives one a fighting chance.
The synthetic blood can carry oxygen and replace volume.
Thanks for the additional info on current fluid replacement. Still trying to locate the thread I mentioned previously...
Somehow I remembered Polyheme.