Exactly thats what it is.
And the quality of detail on that mannequin’s hand - including it being plump like Fuddy’s hands would be - says this mannequin was intended to look like a real person who is really dead. They make very life-like mannequins, and if it was posing as a dead person a casual observer couldn’t tell the difference. Medical personnel obviously could but then if they were told it was an emergency drill it would explain why the first USCG guy there passed her over as if she was obviously dead (who knows, maybe the mannequin had rigor mortis...) and yet they claimed she was in “critical condition” once in the helo. If the note on her body said, “critical condition” they would know that this drill involved a person supposedly in critical condition.
What we know is that the USCG claimed to have retrieved somebody in a lifejacket that the real Loretta Fuddy was not wearing when she was videotaped in the water. If she quietly let go of Yamamoto’s hand and slowly drifted off to sea, as the story is told, there was no opportunity for anybody to change out her lifejacket (and why would anybody do that anyway?) The obvious conclusion is that what the USCG picked up was NOT the real Fuddy but was passed off as Fuddy. Maybe because it had red curly hair and lifelike, pudgy hands, like the mannequin in the seat in front of the videographer, which was quickly carried out of the plane by Jacob Key who (according to the spiderweb tattoo on his elbow) was a fellow Subud follower who lived on Oahu - which is why he had to travel to Kalaupapa to stay with his wife there for five days until flying back to Honolulu with her at the end of those five days - and probably met often with Loretta Fuddy...