Yeah, that pad does have a layer of wood in-between the velvet and leather, as well as some padding to give the surface the right softness.
The materials aren't exactly cheap, if you're looking to make your own, and there's a level of workmanship involved that's a bit harder than the average DIY project. The wood board in the middle precludes easy storage - it won't roll or fold in any way.
They're mighty nice-looking pads, though - and perpetually running out of stock, even at that price tag.