No, not even close. It's an RPG with a ton of side-quests and skill trees. IGN described it as Fallout 3 with zombies, which I suppose is accurate. I went for Borderlands (4 player co-op) meets Left 4 Dead (zombies + "special" infected). There are an insane amount of sidequests, and the melee feels very heavy, like there is a real impact behind it.
I forgot to upload my video last night, I'll do it later today so you can see some gameplay for yourself.