They absolutely are. There is nothing The Warp is capable of that a Power Ring can't also do, usually to a much higher level of power and precision than any Psyker or Warp Echo out there. The only "advantage" The Warp has over The Glow and its associated technologies is that Chaos has a fucking aneurism any time someone tries to research it, making progressing that field of knowledge exceptionally difficult.
Power Rings have allowed teleportation, time travel, universe hoping, and more all while providing a sufficiently adept user with the power to annihilate galaxies and fight gods that make even the most fanwank-y interpretations of The Four seem quaint in comparison.
Of course that power scale hardly matters in WTR since Zoat doesn't seem particularly inclined to allow the setting to get that strong, a move I can whole heartedly applaud because power scaling is for nerds, so Chaos is a galactic threat that can't tell what its own hands are doing most of the time at best, and Power Rings are far more reasonable than whatever the hell the comics are doing.