She's "basically Orana" the way the Outsider is "basically Jason Todd." That is to say, not remotely. Orana was a one-off character meant to provide the one-off challenge of Diana Stops Being Wonder Woman. Artemis is a major supporting cast member in her own right, who even *when* she was playing out the Diana Stops Being Wonder Woman plot, was still a three-dimensional character who was meant to be interesting, sympathetic and compelling in and of herself, and to demonstrate the much more complex idea of why Diana is the Best Wonder Woman. Orana is a jerk, who blows past Diana and puts lives in danger in order to win; Artemis risks her own life and chance at victory right alongside Diana to rescue Themyscirans from Polly's artificial perils. Orana is pure fail from start to finish, and completely antagonistic to Diana; Artemis is noble but flawed, accomplishes good, and cedes the mantle to Diana of her own accord. Orana wins on a god-decreed technicality, and is taken down by someone Diana could defeat; Artemis is presented as a genuine match for Diana on a purely physical level, and what finally kills her would just as easily have killed Diana at standard power level.
There's obviously an inspiration there, thematically and visually, but Orana has less claim on Artemis than Priscilla Rich does on Barbara Minerva, and that's little enough to begin with.