By adding these additional questions, won’t ESTA now be the equivalent of an electronic visa?

No. The requirements for a non-immigrant visitor visa (B1/B2) are different from and more complicated than the ESTA visa. B1/B2 visa applicants must in most cases have an interview with a U.S. Department of State consular officer, submit biometric information prior to travel, and provide additional biographical information that is not required under ESTA. These requirements do not exist for VWP travelers and will not exist with the addition of the new ESTA questions.