No, it's not. It's entire purpose is protecting the copyright owners ability it extract rents against others who might offer competing services, which is exactly the spirit of traditional proprietary licensing, and exactly opposed to the value proposition of Free/Open Source Software.

The terms might be superficially similar to some F/OSS licenses, but the reason it fails to meet the OSI or FSF definitions is precisely that it's spirit is diametrically opposed to F/OSS