No, despite having “step”, in the name, Petestep has nothing to do with a traditional stepped hull. Stepped hulls are efficient at high speeds (~30-40+ knots) due to the inherent trim the step creates. Unlike normal V-bottom hulls, the bow of stepped hulls does not drop down at high speed. As a bow drop is associated with increased wetted area and more frictional resistance, the stepped hull can help avoiding this effect.
It is possible to integrate Petestep with a stepped hull to get more top-end performance in high-speed boats.