No, that's a vertical view, I mean a zoomed out view (without using the Developer Overlay, or having any unexpected issues). I think the reviewers called that a bird's eye view, when asking for zooming out to have a better view of everything.
Thanks - I know I can test it myself, but I was travelling without access to the game.
Just tested it - you are certainly right.
Question remains, why two different mechanisms for the same effect... (probably I should read the manual or the forum more carefully)