If you run down a heavily abstracted feature list looking for checkboxes, maybe. If you look at actual user experience, not unless things have changed in massive ways in the past ~8 months since I last tried it. Some form of the Matrix stack + Jitsi is 100% the way to go if you're attempting to self-host a Discord-like experience, but it's quite the heavy lift compared to just using Discord.

You're still missing out on things like Discord Forums, which are inferior compared to a real forum, but work surprisingly well for being what they are inside of the general Discord app. Threaded conversations are a very different experience (and Discord of course supports these as well.)

Matrix stuff also obviously supports bots, but there's just a metric ton of them available for Discord that server "owners" don't need to self-host or manage beyond adding them to the server. Stuff like managing roles based on reacting to messages all the way to bots that will run your D&D combat... all possible with Matrix, but not generally a "click in three places and it's in your server and working" sort of setup.

Discord takes all these things and just makes it extremely friction-free.