Is this considered a reboot?

It's the same continuity (although there was never really any continuity in the James Bond franchise).

In fandom terminology, it does not "reboot" the continuity. It's a loose continuation.
In industry terms, it "rebooted" the franchise, though.

I do not care what hardcore Bond fans say. I have never felt any of the James Bond films were in continuity with one another. Including the Sean Connery ones. None of the events from previous movies are ever mentioned in any of the Bond films. But that is just my opinion.

It's what they call a "sliding continuity," kind of like what they do in the comic books.

When Piece Brosnan mentions to Judi Dench in M's office about a bottle of liquor that her predecessor left, I in my personal head canon, thought that he was talking about Admiral Hargreaves (Robert Brown, who took over as M after the passing of Bernard Lee). Likewise, I figured that Jack Wade was there as Bond's main American associate from the CSI instead of Felix Leiter, due to the events in Licence to Kill, where Felix was maimed by a shark.

No, Casino Royale was the reboot. Everything from Dr No (1962) to Die Another Day (2002) were the same continuity.

It’s the same continuity.

Its a direct sequel to Dr No