Well no - according to Giant, its a crossover of the MTB and the CX bike:
"If you tend to ride off wherever the wind takes you, or just want something that offers a new level of road, gravel or touring versatility Giant’s new Toughroad bikes may be the answer. The Toughroad series were designed for people who want to ride varying terrain, but on something lighter duty than an MTB. Fitting into Giant’s X-Road Performance category, they are intended to bridge a gap between a heavy mountain bike and a Cyclocross bike (or their
gorgeous Anyroad models!), which tend to be outfitted for competition level riders with drop bars and lightweight components. Giant says the Toughroad bikes are essentially entry level CX bikes with MTB handlebars and versatile options for racks, fenders, and storage bags. Time to get carried away…"
Essentially, the ToughRoad SLR is a CXified 29er with balloon tires. Talk about being carried away, indeed.