No, you’d need at the very least 2000 logical qubits to break some relatively outdated encryption, this one only has 105 physical qubits (and at their current rate they’d need over 1000 physical qubits for every logical qubit)
and even if you had that, you might still run into other problems
so this seems like a promising breakthrough but it’s still nowhere close to breaking encryption
Time for a joke about zero Megagrams