Yeah basically. It doesn’t try to record a single laser pulse interacting with the scene in one shot, but rather slightly adjusts its shutter offset to record another identical pulse in a slightly later position. Since the pulses are basically the same each time, the light will interact the same way with the stationary scene and you can reconstruct the movie from there. You can watch videos by searching 1 trillion FPS camera since that was how it was labeled by pop-science at the time.