I mean technically, yes, the accounts that banks have with the ECB are exactly this Digital Euro thing: Digital central bank money, it’s not like banks are storing banknotes in vaults nowadays. What’s new is that not just banks will have access to that kind of account.

What I missed before, another thing that this enables is a way for the ECB to do helicopter money. Back during the financial crisis the ECB was battling deflation, lowering interest rates didn’t help as banks were risk-averse and simply didn’t want to lend any more Euros from the ECB, and one dead-simple and ludicrously effective way to battle deflation is by increasing the monetary supply by just giving everyone money. The digital Euro would provide infrastructure for that. Another interesting idea would be to pay out the seigniorage (money the ECB makes by collecting interest from the banks) directly to the people, currently it’s (aside from financing the ECB itself) landing in the coffers of the central banks of the eurozone members, and from there in the general state budget. Wouldn’t be much, like 3-10 Euros a year per Eurozone resident (probably should be citizen but don’t make me look up that number), but at least it would nip certain conspiracy theories ("the state is indebting everyone with fiat money) in the bud.