Hmm I always thought lorem ipsum was a text with letter usage histograms similar to English, without distracting the reader with meaning. I could have sworn I read that somewhere...
Lorem ipsum is words/phrases copied from one of Cicero's writings, "De finibus bonorum et malorum". It's not a straight copy, kind of like if you copied every other word in places, but it's definitely Latin.
It does likely have relatively similar usage patterns to English in terms of letter distribution, if only because they're both indo-european languages and English has deep vocabulary ties to Latin through Norman influences.
This is true. And still it is (nonsensical) Latin. It's chosen because Latin looks quite similar to English text. They use the same alphabet and word length tends to be similar.
You are almost right: The distribution of letters and length of words is similar to that of the Latin language. But it is not Latin and the text does not make sense. It's gibberish.