It could, but why bore it instead of using tubing? The interior dimension is not tolerance critical so standard tubing turned down on the outside would be a good choice if you wanted hollow. It appears they are solid rod with threads cut in the lathe. CroMo is already lighter and stronger than standard steel. If he wanted lightest, he would have used alloy, but the strength would then be questionable relative to CroMo in this application.
I'm with you, Retro, looks like it was done well and to a high standard.