Well, no, it's not. It's not a missile, it's not ballistic, and I don't know if the range is truly intercontinental. Not that the Russians and Chinese won't be concerned, but it is a rather different thing (and a much harder engineering problem).
"Prompt Global Strike (PGS) is a United States military effort to develop a system that can deliver a precision conventional weapon strike anywhere in the world within one hour, in a similar manner to a nuclear ICBM"
Maybe this is cold war style thinking on my part but if I were China I would think to myself "yes, United States, please keep building that phenomenally expensive conventional weapon that would be really dangerous against the kind of surface fleet you have but we don't. That's a really... great... strategy you've got there." While publicly protesting against it, of course.