Not at that price. I had two Fender Squier series aka black label Fender basses (the Tradition series are also black label Fenders). I had a jazz MIM, the other a P MIK.
These Squier series were budget Fender models, the MIM Squier series P Bass is a budget MIM Fender P model, sold for something like $50 less when new. Difference is the one ply pickguards and cheaper electronics as in pots and wiring, pretty much everything else is the same.