No, they aren't held to the same standards. In fact, that becomes quite obvious when you've worked with both active duty and reserves (in any service).
So one guy serves 24/7, loses leave because numbers are low at his unit, spends months away from home, can't run for public office, can't be politically vocal, needs to have nicely cut hair, etc....
and another guy serves one weekend a month, two weeks a year, lets his hair grow out in between drilling, etc etc etc....
Yes, they are both part of the Navy, but only the reservist considers his time "on par" with his active duty counter parts.
So the reservist wants his mobilization ribbon, he just doesn't want to be labelled "Reservist".
I worked with reservists on a response, and what I can say is they are WEALTH of knowledge. I had one working for me, a 1st class petty officer...who was also a VP at a company. I had one who won an Emmy for a story he did... and he was also a petty officer. The experiences they gain are far more varied than that of an active duty service member....
BUT at the same time, they're "out of the loop." I saw an O-6 dress down and O-5 for a very minor issue in a very public room. It was inappropriate considering the people who were in the room. I was unimpressed by the "military bearing" and the overall understanding of how the military works day in-day out.
Do the two balance out? Not in my estimation. As I approached my separation date, a number of people suggested I switch to reserves instead of getting out all together. I considered it. But I think every branch could integrate their reservists much better than they currently do.
So no, in my mind, active duty and reserves are not "the same". If they were, reservists should just bag their higher paying jobs, leave vacations up in the air and be "on call" 24/7.