No. It is the same raw image data in a different container.
When converted ‘properly’, the DNG data is as raw as the proprietary camera raw data. Adobe applications will produce IDENTICAL conversions from either (everything else being equal) but not all other raw converters that handle DNG may. Again, just as raw sensor data but those other converters will treat the data a bit differently in some cases. Proprietary metadata, which can ONLY be used with the manufacturers converter isn’t understood and of course, few such companies support DNG anyway so moot.