Semantic-html, figure-and-figcaption

Is it correct to say that, "figcaption Element can be used in place of ‘alt’ attribute? " I personally view this as more or less the same.

<figcaption/> is not a replacement for 'alt` text since it can be verbose and narrative, as well as being descriptive. The alternate text is completely the opposite in terms of what is recommended.

This is clear. thank you!