No it is not.

• What share % of the exciting users would have bought the new token?
• What share of the exsistent users bought leo now?
• What is the risk if you were buying a brand new token vs the risk if you are buying a two years old project with a very aggresive development

Every leo holder will get something for free vs if it was a presale, where only few will get it. The risk of buying leo vs buying the new token are much lower ... etc... so not the same at all!