No, but it's the next best thing. If you decide you want to play something you bought from iTunes or do the iTunes Match service, you can have access to all of your music for download. I also think a lot of us would rather not rely on Internet connections for music all of the time, especially with companies going toward limited data plans. I just pick and choose what's on my phone, but now I can use iCloud to download stuff I bought but didn't sync.