Kind of, in the sense that fellows get a large check and few responsibilities. You have to drop out of college, but you can always reapply and return.

Not really, in the sense that fellows are used as poster children for Thiel's vision of society. If you don't agree with the seasteader movement, you probably won't appreciate being a spokesperson for that worldview. If a different organization you disagreed with offered you a big check to drop out of college and act like a true believer, would you do it?