In some ways yes but other ways no since really its weird. Homelander and Omni Man are the same archetype but Homelander is sort of a bitch compared to Omniman since in the universe of the Boys, Homelander doesn't really ever have any challengers that are on "his level" while Omniman is strong but it seems he to actually be challenged by some of the foes he fights. So one has actual combat/fighting experience, the other is an adult brutalizing and murdering babies.
It's the same basic gamefeel NRS has been doing for a while now. If you've played MK11, Injustice 1 or 2, you can expect pretty much more of the same baseline experience with new characters, moves, fatalities.
Story is a solid new entry if that's what you're going for.
It's a decent game, all in all. I rented it and enjoyed it for about 25-30 hours before I got bored of it. That's on par with the previous installments in the series.