No, it's not. Do you own both?
The top two things the mini needs is a better screen to improve the readability of the small text on the screen and a browser that can handle more than at most two tabs (ignoring basic features that Apple just doesn't want to add like a shared file system, support for usb peripherals and storage, memory cards and video output).
Do you own any iPad?
iPad 1/2 displays both had a resolution of 1024x768. Here's a link for reference:
http://store.apple.com/us/product/FC979LL/A/refurbished-ipad-2-with-wi-fi-16gb-white-2nd-generation
Not only is reading tiny text bad for the eyes, you forget this magical thing called ZOOM. I don't know what you're smoking (it's got to be strong stuff) but I have 8 tabs on my iPad mini and switching between them does not make the tab reload.