No this isn’t caching.
If I’m on the same machine and I log out of wordpress admin, I won’t be able to see anything except the homepage. There’s a redirect happening.
Same goes for other browsers, other users, even people who’ve never visited the website before.
There seems to be a reference to the site host that I’ve screwed up.
I used a Search and Replace plugin to find the IP address and replace it with the domain name, and I can’t ask for support there because the plugin has been pulled.