It's compared to "BASIC" not because of its features, but rather because of what it is and what the other calculators have : an on-calc editable language that offers the ability to code algorithms and often games, too. And on the other calcs (the popular ones in high school, let's say), that'd be TI-Basic or CASIO-Basic. So on the HP Prime, the logical name for such a feature would be a "Basic" too, even if it's not.
Users who write such code on the Prime ought to know that, in reality it's called HPPL....