Does scholarship here refer to scholarly products?

Context:
Scholarship: Beyond the paper
The journal and article are being superseded by algorithms that filter, rate and disseminate scholarship as it happens, argues Jason Priem.
Henry Oldenburg created the first scientific journal in 1665 with a simple goal: apply an emerging communication technology — the printing press — to improve the dissemination of scholarly knowledge. The journal was a vast improvement over the letter-writing system that it eventually replaced. But it had a cost: no longer could scientists read everything someone sent them; existing information filters became swamped.
To solve this, peer and editorial review emerged as a filter, becoming increasingly standardized in the science boom after the Second World War. This peer-review system applies community evaluation of scholarly products by proxy: editorial boards, editors and peer reviewers are nominated to enact representative judgements on behalf of their communities.
More:
http://www.nature.com/nature/journal/v495/n7442/full/495437a.html