Well... It is a zoom lens - note the "18-135" which denotes how wide it can go (18mm) vs how long it can go (135mm).
You probably meant - does it have wide and telephoto capabilities (zoom means that it can change focal lengths). And the answer is yes, sort of. 135mm is a medium-ish telephoto length that is quite good for headshot portraits etc, but not quite enough for sports photography unless it is a small field/court.
I take it you would be familiar with point and shoot zoom lenses? As a point of comparison, a typical "10x zoom" camera would probably be in the region of 35-350mm, compared to the adjusted 27-200mm of the 18-135 above.
As far as "kit" lenses go, the 18-135 is not too bad. Certainly not the worst. I think the best kit lens going around is the 18-70 that came with the D70. Smaller range than the 18-135 obviously, but IMO brilliant quality for the money.
Hope that helps
