Not really. Modern 3D games have an arbitrarily placed camera and use linear algebra to flatten everything from 3d into 2d clip space and then rasterize. Games like D2 use sprites and offsets to give the illusion of 3d, they don’t have a 3d coordinate system to begin with. In games like this movement is usually constrained to 2 axes.
Also a key different is pre-rendered sprites. In games like Roller Coaster Tycoon or Diablo, models were made on expensive dedicated computers and then rendered into sprite sheets. Objects may look 3d but were usually shipped as flat assets. Some modern pixel art games will do stuff like ship a normal map with the sprite so you can do dynamic lightning on a 2d sprite.
Modern games that use parallax could easily be just rendering flat objects in 3d scenes, but 20 years ago graphics pipelines were way different so you had to be clever if you wanted 3d effects.
Also a key different is pre-rendered sprites. In games like Roller Coaster Tycoon or Diablo, models were made on expensive dedicated computers and then rendered into sprite sheets. Objects may look 3d but were usually shipped as flat assets. Some modern pixel art games will do stuff like ship a normal map with the sprite so you can do dynamic lightning on a 2d sprite.
Modern games that use parallax could easily be just rendering flat objects in 3d scenes, but 20 years ago graphics pipelines were way different so you had to be clever if you wanted 3d effects.