It used to be. I saw the prototype of WordLens at TechShop, long before Apple bought them. The case (but not the electronics) for Square's credit card reader was built at TechShop. There used to be startups renting rooms at TechShop for their workspaces. If you want a room at the Redwood City TechShop, they have lots of space available.
I'm a relatively new member - I don't doubt it's changed over the years, much like Hacker Dojo sadly did. In Redwood City I haven't sensed much community activity happening or a sharing culture - I chalked that up to Techshop being for-profit. Still very much enjoy my time there though.
