IEBCOPY copies, compresses and merges partitioned data sets. It can also select or exclude specified members during the copy operation, and rename or replace members

IEBCOPY is indeed a comprehensive IBM mainframe utility for managing partitioned datasets (PDS). Its capabilities include copying PDS libraries, compressing unused space, merging multiple PDSs, selective member inclusion/exclusion during copies, and renaming or replacing members. All these functions described in the statement are accurate.