oh no its not. Thats very, very good software. & its not competition: no layers, no masks no blurs. Apple have almost certainly, successfully divined a new market segment here. You should look at the quicktimes at apple.com; that thing is gorgeous. & its processing raw images in realtime using coreimage. & its completely non-destructive. The project management tools are superb too..
come ooon. And even if it were to be termed simply bridge like, well then it definitively kicks bridges a**. well it does.. Ive been evangelising this thing on more than one forum, but i mean look at the real time colour correction, intuitive spatial file organisation, non-destructive user alterable event stacks on pure raw images (did you see the bit where he reached back & adjusted the crop? that kicks history into the next field).. Blow for blow where it coincides in methodology, it knocks PS down pretty flat. & its a 1.0 release..