No this is not like HT at all, this has more benefits than HT SMT but it also takes up more space. CMT will also be adopted by Intel in the future and with a beefed up shared areas dont expect performance to suffer. From what i have been told a further HT SMT implementation on the CMT is possible and the added sizer would only be around 2-4% of the twin core CMT and presto you get 4 threads out of 2 CMT cores.
This AMD way is the future too bad AMD is super bad in execution of the idea. Phenom had a wonderful arc. and so does BD but both failed where it mattered the most not to mention their power consumption figures...
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