I feel that it is a bit disingenuous to claim they are equivalent if the solution to maintaining a call stack is to explicitly maintain a stack structure.
Iterating over lists, or integers in a range is pretty straightforward. Iterating over a tree? What does that even mean? I suppose we could take "iterate" to mean a catamorphism. Under that interpretation, structural recursion and "iteration" seem pretty equivalent.
Just feels like quite an extension of what "iteration" usually refers to in a language like C.