Yes it's very similar, the scope is just vastly different. If you have the "or later" GPL clause in your license then any new version of the GPL is retroactivel

Yes it's very similar, the scope is just vastly different. If you have the "or later" GPL clause in your license then any new version of the GPL is retroactively a valid licensing option for your code, even if it's vastly different or actually removes freedoms. If they wanted the FSF could release GPLv4 tomorrow that just says all code licensed under it is public domain, and instantly all code with the "or later" clause could be treated as public domain.