It should work for both cases. It's an append-only ledger that captures any mutations on records previously on the ledger. It uses a recent snapshot primarily for efficiency to avoid having to read the entire ledger to enforce any transactional or schema constraints.
So it's an event store in that each write transaction is an event. But it's a relational DB in that it (at least the internal version did) schemas, multi-record updates, and transactions.
