It is indeed the tank and stand pictured. Closed loop means no powerheads. It has an extra hole for water to flow out of, then an external pump (you would need to buy one of these) pumps that water back through pvc piping that comes up and over the back of the tank in four different spots, and that gives you lots of flow. Basically you'll end up spending what you would have on powerheads (possibly a bit more) on the external pump, and then not have the powerheads in the tank.
The only pvc missing is a small piece from the overflow pipe where we had to cut it off to remove it. That's an easy and cheap replacement.
It's not a problem to wait a couple of weeks. I can get better pics of the closed loop plumbing if you want.