Not really the same thing. I use Paperless software on a Mac. It uses a hierarchical structure and also allows me to place a file into multiple folders if I choose. It's a very different experience than using hierarchical tags. I would use Paperless in a flash on other devices except there's no iOS version. I keep hoping for a good alternative. Unfortunately, Evernote isn't it, even though I've explore it several times (including trying out hierarchical tags).
I said earlier: it seems you're either a hierarchy person or a tag person ☹️