In a word, no, but it's much more intelligent than Swype.
But it's much more intuitive to Swype. It uses the same word prediction algorithm as SwiftKey 3 for the Flow feature, so that makes it more accurate than Swype. You rarely get those random works when either they have more than five or six letters, or when the spelling needs you to crisscross the keyboard a couple times. It is also more efficient because you can swipe across the spacebar at the end of words and then continue after the next so there is less need to lift. Lastly the tap to type functionality of SwiftKey three remains intact. You can just flow or type without having to change any settings.