Not really. It is the transport tool for SAP BTP content. It is integrated with SAP Solution Manager ChaRM and with Cloud ALM. So you can use both Change Management tools to control transports in the on premise and in the SAP BTP world. In that sense Cloud Transport Management is on the same level as the Change and Transport System (CTS) in the on premise world.
Is the Cloud Transport Management mentioned in here is the replacement for Charm and part of CloudALM?
Not really. It is the transport tool for SAP BTP content. It is integrated with SAP Solution Manager ChaRM and with Cloud ALM. So you can use both Change Management tools to control transports in the on premise and in the SAP BTP world. In that sense Cloud Transport Management is on the same level as the Change and Transport System (CTS) in the on premise world.