That is correct, it's the observed value over that interval.
But you should get 3600/20*(nr of vdisks) observations back.
Some might have a value of zero, but there should be an observation.
Try with the following, for whatever of your VMs.
It should show 180 (+/- 1 depending on the timing) observations for each vDisk.
$vm = Get-vm MyVM
Get-Stat -Entity $vm -Realtime -Start (Get-Date).AddHours(-1) -Stat virtualdisk.readIOSize.latest |
Group-Object -Property Instance | %{
Write-Host "Start: $($_.Group[0].Timestamp) Finish: $($_.Group[-1].Timestamp) vDisk: $($_.Group[0].Instance) Obs: $($_.group.Count)"
}