It looks more like a 3D Jagged Alliance than a real-time strategy, going by the screenshot above. But the official website for Half-Life 2 Wars makes it clear the Source-based modification is most definitely an RTS.
The first public release, 0.1, is available for download, and it's easy to see a decent amount of work has gone into the mod. Except there's no base building, though I think we can cut them a bit of slack on this point.
Most of the work seems to have gone into getting the camera and user interface right. I suppose once these are perfected, the team will be able to focus on AI and actual gameplay. Download mirrors are available on the Wars site, so you can try out what they've done so far.
Support the modding community. It gives so much and asks for little in return.
Half-Life 2 Wars [Official site]