To further answer your question, No, it's not the same.
The voltage cut-off feature, 3v per cell, or 6v for a 2c lipo is to
prevent an over discharge and subsequent damage to your pack.
The regulator is used when powering servos with a 7.4v or even a
11.1v lipo pack, because only 6v with 5 amp draw is all the power
needed for this application.