Yes it's a 3D application that came out around the same time Character Studio Max came out... I'm not sure on it's relevant usability in the industry now a days but I'd start learning Maya if I were you... every company is starting to turn towards Maya. Great for game platforms and Visual Effects.
I'm pretty sure Rhino was just intended as a modeling program for an alternative to using Lightwave's and 3d Max's modeler programs (it could export to tons of different programs for surfacing and animation, not sure on import though). I always heard it was a pretty decent modeling interface though some people liked it better and some didn't.
I still think modeling in Maya is a pain in the rear though.
DoctorZogg, PD touches on something that provides an opportunity to mention (to those not completely familiar with the reasoning) the benefits of vector artwork for typography and other graphic elements....