Different. The cable crunches work the same way as traditional
crunches. You're creating movement, not resisting it. You're using
your core to pull down the cable, and then just letting it fling
you back up once you're at the bottom. With the EAD, you're using
your hip to bring the band down, and then resisting the back
extension with your core, which is one of the functions of the
core.
Anyway, this is a pretty advanced exercise that most people
probably don't need to be doing for a while.