No, they're different.
I would agree with mmt (and I think it's pretty obvious, actually) that when it comes to qualifying for the tournament/playoffs, it's far more meaningful to judge teams based on their overall body of work rather than what they've done for the last few games. That's how it's done in every other sport, both college and pro.
The CT system exists to create excitement and TV revenue, not because it's the most logical and fair way to do things.