Nope!
The Arctis 1 Wireless uses a gaming-grade 2.4GHz wireless platform, the same technology used in the Arctis 7 and Arctis Pro Wireless headsets. This gives you significantly better performance than Bluetooth.
The audio is lossless instead of compressed for far better quality. It also has ultra-low latency so that you hear every sound as it happens on screen, as opposed to Bluetooth, which can have significant delays.