Yes, it's the whole block. The hex text is 2.5 MB. Hex has 50% efficiency, so the block is 1.25 MB.
Since SegWit, blocks can be larger than 1 MB. There's a 4 MB hard limit which is almost impossible to reach. (With the largest block to date being 2.4 MB, 4.8 MB in hex)
27GB as of 2020-06-14
You yourself can check this via going to .bitcoin/blocks/index folder. Where .bitcoin folder is usually hidden folder on home when using linux.
It depends if you have pruned than the index folder might appear less in size. As of today my index folder is 105.4 MB since I've prune=1000 and it would remain the same in future as well.