That's how I read it, yes:
Attention! This article is heavily discounted refurbished product with possibly light wear or slightly damaged packaging. No free delivery and no return is possible.
The regular products may be
returned, although there are some hinky clauses as well:
You can return the product within [14 days]
at your own expense, accompanied by your invoice and a completed and signed return goods voucher. (The law requires none of those things, and return postage must be paid by the vendor.)
... product ... must
not have been used ... (What about actually testing it, to see if it fits my needs?) ... you will receive a full refund for the
price of the product. (What about initial shipping costs?)
... the client is responsible for any
damage done during the shipping of the returned goods (The law states the exact opposite). ... you must
state the reason for which you are returning the product. (False)
Not that a German company hiding behind some Cypriot letterbox company doesn't speak volumes in and by itself.