Earlier quoted context omitted.
The Y combinator is not the same as λ calculus. The Y combinator is an expression in λ calculus.
The Y combinator is in a sense the heart of the λ calculus; it's a key discovery for understanding that the λ calculus is universal, which is what makes it a useful concept rather than an arbitrary bundle of rules.
The Y combinator is a specific fixed-point combinator in lambda calculus. It is used to express recursion in lambda calculus where direct recursion is not initially available due to the lack of named functions. The Y combinator demonstrates the power of lambda calculus.