Sort of.

I like to insist that the PLC Directory collects and distributes updates to highlight how it's different from a database. The latest state of the account is signed by the key that created it, or by a key that succeeded it. The directory can't inject any values, it's just a low-complexity solution for data availability: the "how do I learn about updates" part.

It could decide to hide/reject updates, but then it could just as well be forked and replaced if it did that. If downstream applications decide to get their account updates somewhere else, that's the directory now, without any loss of continuity for the accounts.

You don't get that from a simple database.

One could argue domain registrations, and so did:web, are more of a database controlled by a (large, international) organization than PLC. Plenty of tradeoffs of course.