No. The Art 50 EUVAufenthaltstitel "Artikel 50 EUV" The Aufenthaltstitel "Art 50 EUV" is a residency title to be issued to British citizens from the end of the transition period. Its name is derived from Article 50 of the Treaty on European Union. The "Titel" refers to the document or card itself, and not the right, or permission that it confirms. card is a residence permit, not a travel document. It is also not proof of citizenship. When you travel, even within the Schengen AreaSchengen Area The Schengen Area is European border control-free travel area, consisting of all EU Member States except for Bulgaria, Croatia, Cyprus, Ireland and Romania, as well as Iceland, Norway, Switzerland and Liechtenstein., you should continue to carry your British passport on you when crossing borders. When entering the Schengen area, you should show your Art 50 EUV card with your passport to avoid having your passport stamped.
It is also important to note that additional validity rules may apply on your passport when outside Austria. For those rules and the rules for other Austrian residence permits, please see this link.
Note: Be aware, that even within the internal Schengen borders they can carry out spot checks and Temporary Border Controls are allowed. With Romania and Bulgaria starting to join Schengen in 2024 spot checks may increase
For those with an urgent need to travel, who have an expired UK Passport, you can apply for an Emergency Travel DocumentEmergency Travel Document The Emergency Travel Document (sometimes also called an Emergency Passport) is issued for British citizens abroad who need to travel who do not have a passport for travel (e.g. due to loss/theft/expiry of their previous travel document) and are unable to apply for one in time. Full eligibility criteria can be found on the section of the UK Government Website about Emergency Travel Documents.: https://www.gov.uk/emergency-travel-document/how-to-apply