No, it's not. They are two different os'es..
Me is supposed to be like the "Windows 98 final" It seems to me to be little more than a tweak of 98 gone to the dogs.
Windows 2000 (which I don't have) is I believe closer to NT than Windows 98.
I know they are different and I can tell you from testamonials and personal experience I liked 98 way better than ME.
If my description of win2000 needs expanded then I am sure someone here can do that for you, but they are two different os'es for certain.
Bush2K is the resident Windows expert.. He will be able to give you a better explanation than I have.