Clearly not. Hubcap is very different from Bumblebee. G1 Bumblebee is a VW Beetle while Hubcap is a Porsche 924. Pretty much the same body as Cliffjumper, only with a much smaller spoiler.
But whether or not that toy is Movieverse or G1 is open to debate... even moreso than Sea Spray or Bludgeon, because it's just a repaint of Revenge of the Fallen Brawn, so there isn't even authorial intent. Also, TFwiki states:
"...before Fallback was mentioned in an Ask Vector Prime Facebook post, it was plausible that the Fallback toy was actually a new form of Generation 1 Outback."
I don't know the post in question (and there is no link to it), but this seems to imply that Ask Vector Prime ruled out RtS Fallback as being part of G1 and as part of the Movieverse.