It is, think of it as Trio with a deeper sub-bass and more organic richer tonality mids and smoother top end. Still the same airy extension of treble (as Trio), but Trio is just too V-shaped and piercing at the top while Duo is a noticeably smoother. And it does have a big semi-open back like soundstage. Sound leakage is not that bad, these are not open-back full size headphones you can't listen to in public. Yes, isolation is only -12dB, but you can easily use them in public transportation, maybe even at the library (or not)
Oh, and lower sensitivity means you have to push volume about 9-10 notches higher than other IEMs.
OK, here is Duo vs Trio in FR: