Neither, AsciiDoc has similar design goals to Markdown but it's a completely separate markup language. I like to explain AsciiDoc as a markup language that sits somewhere between Markdown and LaTeX, it handles far more things than Markdown (and is therefore more complex) but isn't nearly as complex as LaTeX (but also doesn't handle nearly as many things).
Behind the scenes, you're actually getting well-formed HTML5—specifically, HTMLBook, our new open standard for writing books (or book-like projects) in HTML.
If you prefer writing in one of the lightweight markup languages popular today, then we've got you covered with the Code Editor. In this text markup mode, you can use Markdown, DocBook XML, or AsciiDoc, a language similar to Markdown but more robust for presenting complex information.