Ok, so it's a smoking cessation product if you take the definition strictly - but it doesn't do anything to get you off your nicotine addiction, which people usually mean by "smoking cessation product"...
A vape can be much cheaper than cigarettes and you get the benefit of not inhaling smoke and smelling like smoke. You can also begin reducing the amount of nicotine in your vape juice without reducing the amount of time you spend vaping. Most brands offer numerous levels of nicotine from something that's a little stronger than regular cigarette down to none.
Nicotine is the thing people obsess over, but there are far more harmful substances than nicotine in tobacco cigarettes (for example, radioactive elements Polonium-210 and lead-210), and there are MAOIs that make the nicotine in tobacco smoke far more addictive.