Not true. Real fusion means getting atomic nuclei to "fuse", and thereby transmute the original nuclei into a new type. In this case deuterium to helium. It says nothing about the energy balance.
However this style of fusor at least has the potential to generate more energy than it requires. However the devices, while cheap, wouldn't last long.
The real promise of fusion is more energy out, than what is put in. When this kid (or anyone else) does this, then this thread will become of great interest.