No, it does not.

"Hypermiling: Fuel economy-maximizing behaviors describe techniques that drivers can use to optimize their automobile fuel economy."

The successful application of the available hypermiling techniques (DWL, DWB, FAS, etc) will always provide better MPG results than the use of the typical cruise control found in most of today's vehicles.

Of course, "hypermiling" takes a bit practice and wee bit of learning which for some people is less attractive than just using the cruise control.

Cheers;

MSantos