Going by what you say, yes, it would. @PulkoMandy actually raises a very important point.
This is exactly what Paige provides, in a much more advanced sort of way. If you’re writing a word processor, what format it uses and what features it has are entirely up to you. What Paige gives you is the ability to shift text around and to display it in a pretty fashion; it doesn’t give a $#!+ about whether it’s working with a Markdown, HTML, LaTeX, or ODT file—the plasterwork is your responsibility, Paige just provides the plumbing.