It has: two player objects, either of which can be stretched or automatically repeated a few times. Other moving objects are two missiles (one for each player) and a ball. There's also a background, for which the programmer supplies 20 bits, for repetition twice or so that the right side is a mirror of the left. If memory serves, the player objects can be triggered multiple times in a line. All in a glorious 128 colours (in NTSC, anyway).
The programmer is perpetually racing the beam, i.e. generating state changes in the graphics hardware during the active display to effect immediate changes. Think of the Amiga Copper, or the Atari 8-bit computers' ANTIC but all directly on the 6507. It's not quite as hard as it sounds, as there's an address you can hit to sleep until the end of the line and thereby restore your phase with the frame; you don't need to come up with exact-cycle loops if you don't want, just make sure they're short enough, that you wait at the end, and that you remember to signal vertical sync. Horizontal's automatic, but vertical is up to you.
So Pong is a use case they had directly in mind, as is Combat. Pitfall is starting to get pretty clever, with the actual player, the other player image being the scorpion, alligators and logs, and the sprite and missiles filling in for ropes and ladders, while altering the background every line for the trees and ground. And Solaris is just plain wizardry.
The thinking was obviously that the main thing that defines a video game is, you know, the video part. So the programmable component can do the stuff they used to design circuits for in terms of arranging bits of video. Then there's some time in the border for gameplay. Obviously life gets easier once there's enough storage and bandwidth for a static data structure to describe the display rather than requiring a function that produces it, but there wasn't in 1977. It's actually a pretty brilliant design for the era, all constraints considered.
Like many of us, Pacman may have been a bit of a duffer but his missus was a lot more attractive (albeit slightly less so in that example, where the emulator author or video capture card has decided that the best way to resample a high frame rate is, ummm, to throw a bunch of them away).