No,it doesn't. iTunes Match is $24.99 to ONLY access songs you already own. Apple Music is $9.99 for songs you already own AND millions of songs you don't? All I'm saying is there has to be a difference in the "owned music" part of that or who would ever go for iTunes Match again at $15 more expensive for a lesser service?
You're comparing an annual fee to a monthly fee. It's $24.99 vs $119.88.