Although the WDAC/SAC dcumentation says it also takes prevalence into account, it is different. The beauty of that ASR rule (using 1000 installations as a hard criteria) is that it really lowers infection risk.
@Andy Ful has often posted, that the easiest and most effective protection against zero days is delaying installations of new programs with a day. That is IMO the logic behind that ASR rule.
That ASR rule can be compared by blocking new domains (less than 30 days registered) and newly seen domains. It also causes FP's but since most phishing and malicious websites are short lived, it will protect you against most of them (possibly 95% or higher).