Basically yes, but to easily get a bootable µSD card (with a fresh install of Debian and QuantumSTEP), use makesd from
If I remember correctly "makesd pinephone -r quantumstep" should suffice (I haven't tested for a while).
BTW: there is also a similar setup for the RasPi 3B+.
But note that QuantumSTEP is not GNUstep. It shares some frameworks and code and some apps but is based on a 20 years old fork and has developed its own life. So there are other bugs remaining and some aspects are solved very differently (e.g. the build system for applications and the X11 backends). You should see it more as a feasibility study what Apple could have done by not inventing iOS but integrating MacOS into the iPhones right from the beginning... IMHO useability would be the same as with iOS (it is a fairy tale that a mobile device needs a completely different GUI toolkit and Apps have to be designed twice) and they could have saved 10 years to merge MacOS and iOS by never separating them.