Manitas, no, it's not... exactly. But just as many Neo-Pagans see "Christ mass" as the survival of the ancient Winter Solstice celebrations, they also see "Loaf Mass" as the survival of ancient rituals honoring the grain harvest (with the blessing of the bread, etc.)

Besides, for us non-gutteral speakers, "Lammas" is a heck of a lot easier to say than "Lughnasadh"!