Yes, grpc_cli tool uses essentially the same mechanism except implemented as a grpc service rather than as a stubby service. The basic principle of both is implementing the C++ proto library's DescriptorDatabase interface with cached recursive queries of (usually) the server's compiled in FileDescriptorProtos.
The primary difference between what grpc does and what stubby does is that grpc uses a stream to ensure that the reflection requests all go to the same server to avoid incompatible version skew and duplicate proto transmissions. With that said, in practice version skew is rarely a problem for grpc_cli style "issue a single RPC" usecases: even if requests do go to two or more different versions of a binary that might have incompatible proto graphs, it is very common for the request and response and RPC to all be in the same proto file so you only need to make one RPC in the first place unless you're using an extension mechanism like proto2 extensions or google.protobuf.Any.