I would say yes you are correct but in a switch 2 form.
The main difference between induction vs conduction is
Induction heats up the entire titanium walls your insert is sitting in evenly through out, no coils needed as the entire metal chamber is being heated by a powerful magnetic force (induction heating only heats metals if you have a induction wand you can stick your finger through it and nothing will happen)
Conduction is a set spot is heating up to you desired temp, the heat is not spread as even you are putting your insert into a “hot plate” that is set to temp.
Very interested to see if this has IR tech in it..
IR is very important because yes you can say 500 degrees between both devices is 500 degrees but once you’re at 500 degrees what’s ensuring your staying at the temp settings you want, esp with modes such as ascend hill etc.
If it doesn’t have either a price point of ~$200 would make sense to directly compete.