Is an instant pot the same as an electric pressure cooker?

No, they are not the same. While an electric pressure cooker does only a couple of jobs that it is assigned to do, an instant pot will take on the roles of multiple appliances such as a rice cooker, a slow cooker, a steamer, a sauté or browning pan, a warming pot, or even a yogurt maker. It also does the job an electric pressure cooker.
Instead of buying one appliance for each of these tasks, you can simply buy an instant pot and let it cover the rest of the appliances’ work as well. You will save tons of storage space and money.