Yes, this really is an image of the barred spiral galaxy NGC 5068. It’s a composite from two of the JWST’s instruments, MIRI and NIRCam, which see in infrared rather than visible light. The tendrils of gas and stars belong to the galaxy, and its bright central bar is visible in the upper left of this image.
Image Credits: ESA / NASA / CSA / J. Lee and the PHANGS-JWST Team