It is. When there was only conventional oil in the past Mobil 1 synthetic was viewed as superior because of lubricating properties and longevity without breakdown. Your vehicle will only use full synthetic 16W and therefore in my opinion spending more yields no benefits over the Toyota oil.
Always remember, if Toyota built this motor and designated this particular oil (made by Mobil for Toyota) as what the dealer should use, you can't go wrong.
It's what I do for a living, I'm not an expert or master tech, but a long time Toyota parts manager.
When I asked my Local Toyota dealer what oil they used in the Rav4 - they told me Mobil 1. This is what I get at WallyWorld. I don't know why anyone would be worried about using Mobil 1.