In some ways I'd say it's scarier. There's no combat in Amnesia, you don't go shooting a certain Father in the face with a cannon. You don't have any weapons. You are alone, and your mind is going, and there's something to finish before you're done with this world, but you can't remember what.
While it is in many ways more intense than CoC: Dark Corners of the Earth, Amnesia had a smaller budget. There are few NPCs, the voiceacting is uneven, and there are few open locations. Both games are fairly linear and have puzzles that sometimes have to be done under duress, and both have Sanity/Health that doesn't display in the HUD.
Mechanically the strongest part of Amnesia is the lantern - your character can carry one, and when it's lit the protagonist won't loose sanity constantly. However it WILL attract Things. Terrible, terrible Things...
So I'd say yeah, if you liked CoC:DCotE give it a shot.