[mackca]

According to Red Hat it is. If you don't believe them you can get a Developer subscription to get a RHEL ISO to compare with a CentOS Stream ISO. I imagine a lot of people, myself included, would be interested in the analysis of that.

[bubblethink]

So you do that analysis. Two downstream distros of RHEL have said that they cannot continue to offer RHEL rebuilds/updates without substantial changes. That means that it is not possible to use CentOS stream alone to build RHEL packages. You are free to do all the analysis in the world.