Upvote:4
In short, No.
As stated in your question, it received Papal approval, but as a Sacramental.
Sacramentals are material objects, things or actions (sacramentalia) set apart or blessed by the Roman and Eastern Catholic Churches, the Eastern and Oriental Orthodox Churches, the Church of the East, the Anglican Churches, the Independent and Old Catholic Churches, and the Lutheran Churches to manifest the respect due to the sacraments, and so to excite good thoughts and to increase devotion, and through these movements of the heart to remit venial sin, according to the Council of Trent (Session XXII, 15).
There are many sacramentals, as the article includes Holy Water, the cross, and a St. Benedict Medal. I think you will find the Examples section on Wikipedia (linked above) helpful in understanding examples of a sacramental, and what it is.
For more information on Sacramentals you can visit the Catholic Encyclopedia article explaining them.