Roughly speaking, that's the plan, with next year's roadmap focused on raster (image and raw photo) editing. Currently, Illustrator would be the more appropriate comparison instead of Photoshop, because vector editing is the primary feature set we've built so far.
Reminds me more Affinity Designer than Photoshop. Since it is also for vectors. In Adobe land you need two apps for this. (Well actually three - omnipresent Creative-Cloud eating the resources in background.)