No, it's a device with a lot of micro needles that slightly wound your scalp. The theory is that topicals become more effective if you help them penetrate. I think it's supposed to help with scars and anything else you want your skin to absorb. There's also some research involving wounding to stimulate follicle growth, but I don't know if the dermaroller is aggressive enough for that.
That's actually the premise behind the m*a*g g*r*o. A lot of people think it's just a massager, but it actually hurts like hell to roll over your scalp, not something I'd consider a massage. The theory is, you roll it over your head and traumatize your scalp, causing the tissue to regenerate itself. I am still using mine but I'm far too early (a little over 2 weeks) into it to report of any progress.