Hi,
similar, yes, although it also features other elements you would find in other indie-style games, and also some found in traditional style games.
Western City is heavily built around a bidding mechanic (using poker chips, or something similar if you don't have any) to decide who has the right to control the narration, not luck by drawing cards or somesuch. There also is a skill system complementing this to resolve things that are outside of narrative control.
This may sound a bit weird at first, but the bidding mechanic revolves around "extras", additional characters created by everyone that can be used as antagonists, and controlled by anyone.
What essentially happens is you bid to be the primary narrator for a scene (scenes are planned together beforehand, and everyone gets a "high noon" scene where his/her major goal for the day may be resolved), and others bid to control the "extras". You narrate the scene and make use of the skill system within the scene to resolve conflicts where they appear (this limits your narrative control again, which makes it more challenging). In a way, everyone else serves as the GM for the player who is the protagonist in that scene.
There's more to it, like vetoing (also costs you chips), special items that serve a similar function as "aspects" or "edges" do, and so on.
Can't really talk about the details aned proceedings, as I only read the german version more than a year ago, and didn't play it yet.