Yes they are way cool and with some knowledge of the stages of insight one comes to know that the Theravada's at least have a pretty clear overview of what they mean, how they affect ones life and map a progression through them..


I believe the Mahayana have something similar.


Just saying that wisdom stems from insight and that is vipassana is a crude way of looking at it.
It's neither a simple nor a useful statement without knowing what is meant by vipassana, and the stages one encounters when practicing a certain way