It avoids some of the tobacco lung damage, buy you're still getting a dose of nicotine.
Nicotine is much worse for you than it's billed. The addictive aspect is bad enough, but it causes vasoconstriction that screws up a lot of other systems in your body. I'm more non-smoking than ever since I started working heavily in orthopedic trauma. Smokers just don't heal like other people do.