Of course it's fantasy.
Elves and castles and swords are just one form of fantasy, and frankly I'm delighted to read books that eschew all these tropes, and are still as fantastic as all get out.
Having said that, the opening parts of The Etched City are not specifically fantastic although they are very cool pulpy adventure - that chase through the desert is so cool!
It's only when Raule and Gwynn reach Ashamoil that the wierdness begins. It is very weird indeed.
I loved this book's mix of kickass action, abstruse theological discussions, evocation of beauty both natural and artistic and gritty, urban sorididness. It's a rich, layered book that gave me more pleasure than most multi-volume epics have in recent times.
It's an astonishingly accomplished debut, and I hope Bishop writes many more and helps free fantasy from the domesticated park of clippings from Dock Tolkien's gardens (no disrespect intended to Tokien there).
Here's my take on the theme of this novel: transformation.