That's the direct inspiration for it.
To be clear, Football is NOT like Baseball, and DVOA will never be as effective as the statistical tools Bill James designed for baseball. You cannot manage an NFL franchise off Football Outsiders like you could run a baseball team off of Bill James' sabermetrics. There's an unbreachable gulf between how you can statistically evaluate football and baseball.
That said, they are a novel and effective tool, one of many, to evaluate and question football on the field. I've always used the site heavily and highly, highly recommend it to any interested in football.