That still looks very complicated compared to most microframeworks I've used, including web.py.
And all that django-specific logic that needs to be in there makes it harder to read unless you're familiar with the django ecosystem.
What "django-specific" logic? Those are standard imports and a few helper objects, the kind of which you'll find in any web framework.
[edit: importants => imports]
All these things, when compared to a true microframework, contribute in legibility of the code.
Until they are. Then you go ahead and implement an ad-hoc settings scheme.
from django.conf import settings
settings.configure(ROOT_URLCONF='polls')
from django.core.wsgi import get_wsgi_application
application = get_wsgi_application()