Probably not. The word Ponzi has a very negative connotation. Literally looks like a literal transparent ponzi though.
Honestly, these pyramid scheme so-called "gambling site" are a scam and only the site owner is real winner.
They start at a low amount, and rely on Person B buying the lot from Person A (note: site owner does not have to make the any investment) and the unlucky Person X loses his entire amount (which can be rather large) and the site eats that amount. Honestly the hosting and w/e costs nothing compared to just taking lots over a period of a month.
Except that in this case it doesn't look like a pyramid scheme. Max loss per person is 50,000 doge.
And site owner makes money if he suddenly refuse to pay. Or he place money into the pot as well to get the 20%. For him it is risk free.