Indeed, it is. I'm the official distributor in Germany and tested it upfront.
Basically, it's just a Raspberry Pi with EmulationStation on it - but it's already preconfigured very well.
You only need to copy your roms onto the SD Card and it works out of the box. Preconfigured for the controller AND it has good-looking retro-filters preinstalled (so that the Lynx looks like a Lynx LCD, the GameBoy like a GameBoy Screen, etc.
That did surprise me - I was expecting a standard RetroPie-Installation myself