It's similar in the sense that you get to anonymously judge your friends, but the differences become very, very apparent as you start to play Joking Hazard. It's group storytelling. You're creating a weird (and often horribly wrong) three-panel scenario starring two characters, and often times the winning punchline wins for very unexpected reasons. You're just as likely to create a very real, tragic comic as you are a funny one, which can be even funnier.
For the record we're big fans of Cards Against Humanity.