Godfrey
somewhat colored
Sorta kinda... but not exactly. Yes, if you just look at the top level you would just see a iPhoto (or Photos) library but all you have to do is alternative click on that and "Show Package Contents" to see everything. Your photos will be in the Master folder and then sorted into additional photos by year->month->day.
Shawn
And if you mess with anything in hose folders, you risk losing everything in its entirety.
You can also set Photos to work "by reference"... where it becomes similar to Lightroom in terms of how it accesses the originals.
The real problem is that both these apps are parametric editors. Until you export a completed image from them, the changes and edits you make sure not in the files, they're only in the apps' records about the image. So if you want to protect against loss of data, after you finish a rendering, you must export the file out of the app's environment to create an image with all your edits and metadata embedded in them.
My question is, why does the OP consider this "malarkey"?