No it is not an alternative to a colonoscopy it is a different test.
If this test finds something then the next step is not treatment it is you need a colonoscopy.
It is a test that cuts down on the number of colonoscopies needed and is cheap enough to find problems earlier than everyone having a colonoscopy which is just unaffordable,
I've got extremely normal marketplace health insurance and my doctor is at an extremely normal overworked large regional health chain, and I would have to argue with him to get an at-home test; the whole system is set up to funnel us all into colonoscopies.
Replace colonoscopies in that sentence by anything that can be made money from and pays doctors.