It is slightly different, but in a way that's worse.
AR uses a transparent overlay over reality perceived through a translucent surface, or at most a small subset of your vision is replaced. Think sunglasses with a screen you can see through, or a small corner of your vision is blocked by a tiny screen.
In Apple's "spatial computing" cameras recreate and alter reality, nothing you see is with your own eyes because no part of the display is transparent.