I read post after post where many do NOT understand the feature, and confuse it with a chord 'TRACK', so no, I don't think a rose by any other name applies. Many are confusing this rose with a tulip!

There's a radical difference between a chord track recorded in advance, and a 'looper' that grabs what you just played. Every time you do it, you can change chords, substitute, anything you can think of. A chord track restores the same limitations that SMF's have.

A cool trick you can do, for instance, is play the chords in in first or second inversion (or whatever would make for an interesting progression), but with ON BASS off... then, on some of the iterations, switch it on... different bassline! One button...

To be honest, a chord track recorded in advance is comparable in some ways to an SMF with markers in it and a Cover Tools facility. You can vary radically how the SMF sounds and plays, but in the end, it is still prepared in advance. Arranger playing is all about what do we want to do NOW, tonight, this song, this time round. This is where grabbing the chords you JUST played, rather than setting them up in advance gives the edge to the Chord Looper, IMO.