$1.00 off a Half Gallon Land O Lakes Half & Half – Does that make it 1 1/2?

Here is a new $1.00 off one Land O Lakes Half and Half. I am a dumb guy, I am guessing that it means half milk and half cream. Isn’t that about the same as Whole milk or am I missing something?

Land O Lakes Half & Half: $4.48
$1.00 off one Land O Lakes Half and Half
Total: $3.48