Even allowing for Minecraft's low-res visual style, no, sports fans, this is not "sim" basketball. The game played on this court (well, map) is more like NBA Jam, with profligate fouling and a "block" button that really puts a lid on the rim.
Minecraft Basketball still is an impressive, full-service piece of engineering, done by a group calling themselves the Farlanders. And for sports gamers who haven't played Minecraft, I think it perfectly explains the tone and point of the overall game as well as why so many people play it so compulsively. For once you can figure out how to assign teams (the most ingenious part of this, in my opinion) and build a scoreboard, the next stage is to construct a basketball hopper to keep feeding everyone the rock, and introduce some defence, and reset the game, and so forth.
Minecraft creator Markus "Notch" Persson retweeted a link to this court, another endorsement of its quality. The creators note that some of the equipment used in the court isn't yet available in the latest official version of Minecraft, but it is in the most recent developer snapshot (a work-in-progress version of the game.) For those who wish to download it, you can grab it here.