Perhaps Intel is banking on the Z370 chipsets being the Intel equivalent of AMD's AM4 -- a chipset that sees support until the introduction of DDR5 memory. Nonetheless, the Z270 chipset being unceremoniously EOL'd is an unpleasant occurrence for many (including ODMs).
To answer your question -- it is most definitely not a drop-in replacement. While they may use the same socket, they are not interchangeable.
Hah, you wish. It's already been leaked [1] that next year's 8 core desktop CPUs will require a yet another chipset - the Z390.
[1] https://www.custompcreview.com/news/intel-chipset-roadmap-re...
Hopefully AMD's next-gen chipsets (ie: the AM4 4xx chipsets) maintain backwards compatibility with current-gen CPUs.
While AMD has been straight-forward about current-gen chipsets (ie: the AM4 3xx chipsets, A320/B350/X370) supporting all manner of AM4-compatible CPUs until AM4 is EOL'd, it is not yet clear whether next-gen AM4 motherboards will support current-gen CPUs. Probably not.
The description implies you can drop-in replace a 7700K with something in this series, but apparently not?