That's exactly what I was thinking, as on the surface that's all it seems to be.

What sets them apart is all centered around their Social-X and Redd-ID efforts. Redd-ID is not released yet, but will be the implementation of a single address or selected namespace that you use across all social media from which you can send/receive tips. So ease of use should be fantastic. There is more to it than that, but that's all I understand well enough to talk about! :)

Namespaces mean that instead of '98hDwv9G8h8io0Z80v3n80 sent 200RDD to 10Hhz30d2j9jdksiuo8hHkludhgs', it will be 'Legions sent 200RDD to Devilbond', for example. They also have 5% interest earned by PoSV2 which already works on a desktop wallet, and will soon work via a mobile app.

(I'm not affiliated with RDD, btw. Just been following them for a while).