No it is not.
Krita was meant to be an OSS alternative to Corel (ex Fractal Design, ex Meta Creations) Painter [1].
And that's what it became, eventually. And quite a bit more.
I've been using Photoshop and Krita since the first version of both of these DCC apps came out (and Painter too, btw). Professionally. I.e. for most of my adult life.
Krita is a great paint app. It's not a Photoshop alternative.
Photoshop is a great image manipulation app. It's not a Krita alternative.
Krita absolutely is a Painter alternative.
Painter is no longer a Krita alternative, if you need certain features (that's a topic for an entire blog post).