Not at all. While Masterpassword does not save any passwords but generates it based on some unique parameters live - pass stores passwords and notes encrypted with GPG in a git repository.

The list differences to LastPass is long.

Pass is OpenSource. Pass doesn't store your information on anybody else's computer by default. Pass has not first party browser plugin and is therefore not open to attack through browser plugin holes.

On the other hand you control everything by yourself including batch updating your passwords. And there's no online service.