Not really. It does rDNS and other checks for some Search Engine Bots but also includes the User Agent. So simply way more sorrowfully than just the transmitted (and possibly faked) user agent. The same what IP Threat monitor (that Levina had in the past) does with a somewhat broader range of Search Engine Bots.
Also, I would recommend not rushing through tools w/o having the used tools well configured before. Levine went from nothing to IP Threat Monitor, switched from there to Cloudflare after only a couple of days, not long ago and shoot herself in the foot with Cloudflare just yesterday, if I remember correctly. Another day, another tool is not a strategy that promises success. I do like Bot Guard, but I know what it can do and what it can't do. A properly working environment with full understanding of the existing toolchain should be a given before adding the next tool. Not sure if this is already the case.