No. Dr. Gerald Oster, who is credited with popularizing the term, ultimately denied that they have any therapeutic use cases. Even so, it has lingered in pop science today.
Although both involve acoustic modulation, Brain.fm uses a unique and patented method, including many other sound features designed to help you reach particular mental states. To give a few examples, our sleep music uses 3D spatialization to produce relaxing auditory motion (‘rocking’), and our focus music filters out high frequencies that can otherwise be distracting.