The first sentence on the systemd project overview is:
systemd is a suite of basic building blocks for a Linux system.
After describing the init system it goes on to say:
Other parts include a logging daemon, utilities to control basic system configuration like the hostname, date, locale, maintain a list of logged-in users and running containers and virtual machines, system accounts, runtime directories and settings, and daemons to manage simple network configuration, network time synchronization, log forwarding, and name resolution.
systemd is intentionally a much bigger project than just the systemd init system.