Yes, it is totally different listing site. But they are now also allowing bedroom rentals, and I believe some hotels too. The latter hasn’t gained much traction though. VRBO used to be a site only for vacation rentals by owner. Then Homeaway bought them and also many smaller sites to buy up the competition, and now allows huge property managers, etc.
But just like this forum, they also discuss Flipkey, Booking.com, Airbnb, etc. I suggested it only because many people who have listed on VRBO/Homeaway for many years…and only recently joined Airbnb - they only participate in the Homeaway forum. So it is likely they have no idea of the changes coming their way.
It may or may not be effective. Homeaway is already tinkering around with set cancellation policies, where before owners set their own cancellation policies. They will follow suit with Air. But many people on Homeaway seem to be walking around with their blinders on.