Not quite. A traditional mainframe is highly integrated, to the point of allowing hotswapping of CPU and memory. Oxide seems to be a fairly standard collection of x64 hardware, with a proprietary management software sauce.
Like the Tandem Nonstop series. (Now part of Hewlett Packard Enterprise) I had a contract with a 9/11 call handler for a while. They had one of them (or possibly more). On display of sorts through a window of bulletproof glass.
The IBM Z series does not allow hot swapping the CPU and I dont believe it ever did. The parts on the Z Series are super easy to replace. All in nice components sitting on a rails to yank in or out.