Not really - more like a managed wireguard config system, with fallback VPN for NAT punch though when needed (so it always works, no matter the network). Traffic is direct when it can be, but when it can't it still just works. Nothing that isn't possible manually, but is exponential in effort to maintain as you add systems, made super easy.

Plus nice features are appearing all the time, like file sharing, Funnel, magic DNS, etc,

It’s solves real problems in a convenient and robust way. Like every product, it will not suit everyone.

Pretty much but it makes the experience so much better. Like stable IP/DNS to al of your machines no matters how are those configured/accessed the Internet. Or “air drop” files between machines

With easy p2p

Its just a hosted wireguard