Definitely not.
The real stuff is a wonderful shred of leaves, stem, flowers, and powder from the leaves. It is green and has a sweet herbal aroma reminiscent of fresh hay. The overall taste is of green herbal tea with a nice astringency and tannin balance like a good tea. It is bitter, just as unadulterated black or green tea and coffee are. When I first tasted it, I wasn't blown away by it, but the more I drank it, the more I appreciated the flavor. You can get 6-8 cups on the same leaves, it just keeps giving out its flavor, albeit more delicate with later brewings. Plus it is just so amazingly healthful. It is just loaded with all sorts of good things for your body. I am a big tea drinker and can't start the day without my mug of tea. But lately, I've been going for the Mate and bypassing the morning cup of tea. The other thing, the little dab of product in those teabags is such a rip off. When I fill my gourd, I use a couple spoonfuls which last me throughout the day with subsequent refillings from the thermos of hot water I keep at my desk. I'm also drinking a lot more fluid during the day as a result. Hopefully you can give the real thing a try. I'm totally hooked on it.