Yes in essence. It worths to notice, ens exists since 2017 and has many integrations with wallets, 0xname is a new project and as of today you cannot use it as address replacement out of the box without additional steps in let’s say metamask. Though this feature is submitted to metamask and going through the approval process already, so should be possible soon.
I’ll try to keep it simple, but might be a bit long :) To interact with any decentralised applications or to transfer assets people use their wallets with long addresses consisting of 42 letters and numbers (in case of Ethereum blockchain). Naming services such as ENS are helping to link an address with some human-readable name which is issued as a token on the blockchain and could be used instead of the address (a name could be resolved into the connected address by a wallet). People need and use such names for various use cases. ENS have some disadvantages though, like for example:
0xname just provides a public good alternative for people, who need it, to get their names for free (without any one time or recurring fees), names could be also associated with any community/project/initiative etc (like alice@lemmy) and they use no servers, but store all the information on the blockchain itself that is more resilient.
update: as of today 0xname resolver added to metamask official snap directory! so, 0xname names could be use instead of long address in metamask after quick snap installation.