Yes, and no.
Much 3D on the market tricks the mind. Example would be a 3D movie with wearing 3D glasses, that is not true 3D, but it tricks the mind into looking 3D.
Another example would be those 3D baseball cards that when you tilt, they look 3D. Just like the new translights on White Water and other games. You could argue those are true 3D because they are on different levels, but because of other manufacturing it also tricks the mind to look more 3D then they are.
On this, because the image is at one level, and you can see through the surface the image is at to the surface behind, it tricks your mind into think it is 3D, because you do have different surfaces. Then as an images moves, get smaller and larger, and different angles, it further tricks your mind into thinking it is 3D. Some videos are better then others, but many do appear to be true 3D. One comment we hear again and again is I want to touch it. People want to touch it, because their mind knows something is not right, just like people often want to try to touch things on a 3D movie.
Also this product is listed and it is accepted in the market as a hologram producing product.
Does this use laser to intersect as multiple thousand dollar hologram generators do? No.
This product WILL NOT give you a 3D experience equal to movie with glasses, but it will give you a much higher 3D experience then a monitor because of the different levels and design.
One thing I can tell you, watching a video of this product is NOTHING like watching this product, their is a HUGE difference.
So I guess part of your answer would depend on your definition. Is virtual reality true reality? No, but it sure can be cool to look at.
Best thing is to view yourself and make the determination for yourself.