Nope!
It uses something better: the same gaming-grade 2.4GHz wireless platform 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 audio 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.