That's right. The Superloop is intended to simulate the feeling of a looping slide without needing permanent supervision, expensive emergency exits and pointless weight limits as it completely works without uphill sections. It's not a real loop slide, but more a narrow helix which brings up high G-force.
Another fact Proslide might have considered is that they do not have to pay licence fees to Aquarena, the inventor of the loop slide, because their technique (inclined loop) isn't used with this slide.
I like both versions, as the real "kick" at a loop slide is always the start rather than the loop itself. You don't feel the loop at all, you just feel that you become a bit slower and then faster again. So a slide without an uphill way is quite thrilling, as well, assumed that the slide has an appropriate starting height (more than 10 meters is minimum, in my eyes).
I've heard that Van Egdom is planning a completely vertical loop, and they wanted to build it at Tikibad but it didn't fit in the tower so they built the small X-Stream. But I ask myself how high the G-force must be in this slide...