No, what they did was pick an SoC called QCM6490 which is used for embedded and industrial applications, and Qualcomm officially supports those for 8 years, unlike the snapdragon SoCs. According to gsmarena it should have performance similar to a snapdragon 778G.
Yeah, just read about it. That said Qualcomm's part of the support is said to be 5 years by Ron at Ars:
Let's talk about that industry-leading 8–10 years of Android support, which doesn't necessarily mean 8–10 major OS updates. For now, Fairphone is promising "at least five operating system upgrades" because that is how long its weird Qualcomm chipset will officially be supported. Fairphone says Qualcomm will support that chip "until 2028" and after that, "Fairphone commits to extend support until 2031 and is aiming for 2033, giving users a total of eight to ten years of software support."