Whether or not a no-bake cherry cheesecake recipe tastes like a traditional cheesecake depends on the ingredients used and the taste preferences of the person eating. The biggest difference is that no-bake recipes don't use eggs and harden via chilling, giving them a different texture.
In a traditional cheesecake recipe, cooks mix cream cheese with eggs, sugar and other ingredients and bake the cake in an oven until the ingredients fully cook. The cheesecake then cools and hardens. A no-bake cheesecake removes the eggs and only uses chilling to harden. This results in a thicker texture and slightly different taste, though how different varies from person to person and the other ingredients used in the recipe.