For me, listening to audiobooks is not something I do without something else going on. I listen to audiobooks when I drive. This way, I can quasi-absorb a book while driving without impairing my ability to drive. It fits in a different place in my head and I gain most of the info in a book. It feels like a good use of time while driving. Driving for me is not something I do for it's own sake. I use it for transportation. Therefore, listening to a book is a good use of the time.

However, my recall of listening to a book is far lower than my recall reading a book. So no. It is not reading.

Also, I never sit still, close my eyes and listen to an audiobook. I would much prefer to read a physical book. I like to reread complex paragraphs and go at my own pace, not the pace set by the narrator.