Not so much as mayo, which is ~1/2 of what I put in my homemade thousand island dressing. Actually, a tablespoon of that probably has closer to 55 calories, guessing. I do use olive oil exclusively in my kitchen. It's more healthy than most kitchen oils, granted, however I'd still call it empty calories compared to most foods. I do believe, however, that it's a healthful part of my diet, it just doesn't contribute any of things I need like protein, vitamins, minerals, omega3 fatty acids.
I've considered shopping for mayo made with olive oil. I think I once looked for this recently in a grocery and was discouraged, maybe by the high prices.