Very much so. My heart rate readings are basically the same as on my road bike but I’m making the trip with ~100 pounds of kid & cargo.

I’ve seen a few studies supporting this in general: people ride with the same intensity but go further or get there faster.

There’s a really key benefit which is less obvious: e-bikes remove disincentives. Everyone I know who bought one rides more because they don’t have to worry about that one big hill, or the spot where you need to be on a road & going <20 mph triggers driver aggression, or you can carry your heavier groceries home, etc.