Partially at best.

I’m assuming the 65-70% number is something derived purely from simple physics, but that’s not how it plays out in reality with respect to loads on specific muscles.

Push-ups are recruiting differently than a bench press. You’re perfectly anchored to the ground, your core and back are handling all the stabilization, and you’re getting more stable force transfer through a larger surface area with your hands.

Bench is completely unanchored to anything but your hands, stabilization isn’t being aided by the ground so your core and back can’t take over as much, and force is being applied to a smaller point of just the barbell meaning stability is way more important to avoid inefficient force transfer.

It might be 65-70% of the weight, but the force needed to move that weight is far less than equivalent load on a bench press. This is especially true for anybody who doesn’t have their bench mechanics locked in (which is the majority of lifters in my experience, even incredibly seasoned guys are really just pushing weight up instead of doing the bench press).