Not at all. If you have that, plus 30% efficiency in a turbine, but you've got a 35X gain from fusion, then overall you have .2 * .3 * 50 = 2.1X overall gain.
NIF's latest shot is 2 MJ in, 7 MJ out[1], for a 3.5X fusion gain. So they've got an order of magnitude to go before getting to modestly practical levels. NIF seems to scale much better than linear with respect to the laser power, so an order of magnitude better gain is probably not a big change to the device.
(This does neglect energy loss in the hohlraum, so it assumes that direct drive laser fusion will get similar results. There are several projects working on that. Based on another comment here[2], the main reason for the hohlraum was that it made the experiment more relevant to weapons.)
[1] https://physicsworld.com/a/fusion-industry-meets-in-london-t...
[2] https://news.ycombinator.com/item?id=43935891