Yes, Eddie, it does do more than an equalizer. Whether it does enough more to warrant purchasing, I'll have to demo it and see.
Past experience tells me that when it comes to tools such as this, if you don't know how to accomplish the task without it you probably won't have much success with it, either.
I'm still waiting for the next generation of truly intelligent plugins that analyze a problem and apply a solution more efficiently than a human could. Consider automatic transmissions as an analogy. For decades, automatics were less fuel-efficient than manual transmissions because they weren't smart enough to compensate for the power they took from the engine. Contemporary automatic transmissions, though, make faster and better decisions than a human can, and you can no longer assume that shifting gears yourself will save gas.
I guess I'm saying that current audio plugins are at the level of sophistication of a 1950's era Powerglide.