No. It is identical to a Model Developer Edition of ExtendSim with the exception of two things:

ExtendSim will only launch for 30 days in Trial mode. After that, it must be activated to a fully licensed version.

When you open or build models in Trial mode, you will see a Trial version watermark behind each model. This watermark gets saved with the model. To get rid of the watermark, activate your ExtendSim license and re-save the model.