Yes, Bill, you are right. This library is not designed to be used as an application, but should be built into your applications.
1C:Subsystems Library is designed to provide a reusable configuration objects and procedures/functions. It is supplied as an ordinary 1C:Enterprise configuration, containing several subsystems. Some of them could be used as is, for example Event Log and some should be integrated into your application, for example Contact Information. There is a set of procedures and functions in Basic Functionality subsystem which could replace much of often repeated code in end-user applications.
Also there is a demo application in the setup package, which is an application, which is based on 1C:Subsystems Library.