Essencay, in a way, it's similar, except for two things: the tiles can be placed anywhere "around" you, not just in a limited space on your desktop. Note that your desktop icons (for the moment quite ugly without transparency) can be placed anywhere around you. The second difference is that those tiles are cannot be active, unlike The Windows FX ones.
I guess the idea here is to think of your desktop not as a flat limited space, but a very large sphere that you can use to open and shrink windows, and place shortcuts.
Oh, and there is no risk here. There is no installation. You download, unzip and run the application. It's only 100k.  As long as you have the requited libraries, otherwise you will need to install the Microsoft .NET framework and the CSGL libray. The second is also very small, but the Microsoft .NET is huge. But you may already have it. I did.