The important part is its use. You could call it magic key negotiation and I wouldn't care. RCS and SMS are fundamentally different technologies in every way.
They are presented to the user in the same way. They serve the same function. From a user perspective, its about as different as http2 is from http1.1 or 3. (I.e. very different under the hood but not in a user visible way)
SMS everywhere is unencrypted