Yes, it is. You can be confused when checking it out because it not only allows you to navigate communities individually like on Lemmy but also bundle of communities for a single feed by topic or custom feeds created by others (likw how people can bundle a list of profiles for its own custom feed on Bluesky, but instead you do it with communities on PieFed)
Communities (Lemmy) = Communities (PieFed)
Topics (PieFed) = by so far what I understood its created by the instance usually and by default when self-hosting your own it will have some topics already organized with feed from communities related to the topic title
Feed (PieFed) = user & instance custom built feed of communities (Lemmy or PieFed) bundled together into a single feed and easily shareable with others
You can check the PieFed instance list here , some Lemmy instances are alreqdy starting to host a PieFed instance on the side too I just dont see lemmy.zip instance for PieFed there yet which is piefed.zip but you can check the others in the notes by the side of their address
( Update 2 : cropped the second image properly )