Not to the EU, or Australian privacy laws either I suspect. You need to be able to request your data be removed entirely.
From a practical sense it isn't equivelant either, because if I want to reduce my risk of being affected by a Threads data breach, totally valid reason to delete an account you don't use, then my data would need to be removed entirely.
You can "deactivate" your account and delete all of your posts individually, which is effectively equivalent to deleting your Threads account.