Yes, SVE, like the RISC-V vector extension, is a "real" vector ISA, with things like vector length register (no need for a scalar loop epilog), scatter/gather memory ops for sparse matrix work, mask registers for if-conversion, looser alignment requirements (no/less need for loop prologues).

That being said, apart from becoming wider, AVX-NNN has also gotten more "real" vector features with every generation. The difference might not be as huge anymore.