No, they also have the ability to impose disadvantage at will. And their AC is substantially higher - AC 25 vs. AC 20 is a big leap, and compounded by being able to impose disadvantage. Deflect attack is just the icing on the cake. Currently, monks do get very tanky at high levels, but this compounds it to the point where I think they will be among the best tanks in the game in most situations.
They will also have uncanny metabolism so they won't be just a one fight wonder.
It feels off to me because it seems like a significant change in their role, and potentially steps on the toes of classes that give up more in order to tank. We have a barbarian tank in our party so I will playtest more, but we are only level 9. Even at that, I think my monk is going to turn some heads in the tanking department.
They were already able to go invisible without concentration. No action required after the first. For this particular fight, dragon abilities would negate that, but it's more a peculiarity of the opponent than a reflection on the monks' relative tanking abilities between versions.
I'd certainly agree that the AC boost is a big jump, but that big jump only happens in the very last level. For every other level before that they are on par with regular nonmagical equipment.
And the level 20 Monk 1.0 was also not a "1 fight wonder". It was a short rest class. And while uncanny metabolism does provide greater assurance that a Monk can nova in 2 fights a day, they were already able to do that if reasonable resting guidelines were followed.
The entire back half of the PHB monk class design was devoted to potent damage and control mitigation abilities separated by a peculiar amount of design space devoted to ribbon abilities. With the exception of the capstone, the high level monk tanking abilities in Monk 2.0 have actually gotten less potent vs the PHB (IMO). Instead they've shifted a lot more survivability into the lower levels via deflect and greater action flexibility.
In total, the level 20 monk 2.0 is a very good tank, but outside of the AC bump, I don't think it's that much more survivable than the PHB monk for conventional use cases.
To be honest, at the highest levels, I'm also not sure that it's significantly more potent than the PHB monk. The change to stunning strike is a clear downgrade to control while the changes to grappling are an upgrade. So call that a push. Damage is up in total between the dice, stunning strike save damage, and the extra flurry, but it seems some of the subclass damage potential is being pared back (at least from way of the hand). Probably a net win but would say the jury is still out.
The thing that jumps out at me most from these changes is flexibility. At the highest levels, I don't think many of the options are significantly more powerful than what the monk had before. They're just more applicable across more of level ranges with fewer hoops to jump through.
It's kinda impressive.