Yep. This takes advantage of the battle sight zero characteristics of the AR-15 pattern rifle. I don't personally prefer this zero, but it has advantages. This is why the original AR-15 did not have a bullet drop compensator. Zero at 300, hold dead on for every range in between. Works great if the Russians are running at you across the open fields of Western Europe.
One problem with this zero is at about 150 yards the bullet would be around 6-7 high; if the bad guy is just peeping over cover you'll shoot over him.