It's not
just this, but that's one technique.
However this example has decoupled component hierarchy and HTML hierarchy. Which demonstrates they don't have to be coupled.
> But this is just bundling the props on a component and using the component itself as a bundle to drill down.
But there is no prop-drilling needed, as long as NavTree and ContentArea are also UI primitives. If you need NavTree and ContentArea to communicate with each other, for example, they're now siblings in the hierarchy, even though the HTML hierarchy is as deep as it needs to be for the design.
Btw: If "NavTree" and "ContentArea" are not primitives, they're the kind of thing that breaks a flat hierarchy and require prop-drilling/context/redux/etc in the first place. This is where one would use configurable primitive components, rather than the "Clean Code"-style extracted code.