No. It almost certainly isn't. In terms of deaths per million, we currently compare similarly or better with countries where the lockdown was earlier and much more severe.
The fact is that it is way, way too early to start drawing conclusions about the numbers of deaths or why they did or didn't occur. Reporting criteria vary, as does methodology.
And comparing NZ - an incredibly sparsely-populated country thousands of miles from anywhere - with pretty much anywhere else on earth is totally meaningless.