No, the Selectric didn't have the same psycho-acoustic feedback - but it did have the best "feel" in an electric typewriter, and was the favorite of admins everywhere. The Selectric also requires a firm, positive keypress, and was among the fastest, if not the fastest, typewriter then available. IBM kept that superior quality "feel" - and, if anything, made an even better keyboard with the Model M than their own mighty Selectric. (I have two Selectrics, and they are also fun to type on - but not quite as nice as good Model M.) The IBM Model M keyboard design is acknowledged to be faster than more recent (and quieter) models from most other makers today - yet it requires a stronger keypress. So something is going on here, when experienced typists are faster on it!
And whatever it is, it's been around since 1985 - and is still sought after. Thinkpad Fan