Not exactly. Thousand Year Blood War is the last arc of the manga that was never adapted in the original anime (because manga wasn’t finished and the TV station chose to end the series instead of making yet another filler). TYBW picks up right where original anime ended, but it is also in many ways is also a new take on Bleach.

The animation style has changed a lot, instead of hand drawn they are I think using mix of digital and hand drawn (to great effect I might add, the show has some of the best animated scenes in the entire series). The story is much darker and grimmer because the manga was too, but animation embraces it, it’s noticeably more graphic than the original series. The characters are bit older and there is (slightly) less immature humor. Though production studio still shows lot of respect to the old series, one way is by use of the old iconic soundtracks in key moments of the show. Overall it’s a much better paced and produced show that will feel perfect for old fans of the show who have grown up since the original series.