No it actually starts everyone at 2500 for their first time placing. So wrecking face in your 5 placement matches can get you as high as 3304 apparently. It also means players probably can’t place below silver their first time either. It’s a completely broken system since they have hundreds of games’ worth of stats (can’t place until level 25), and they just throw it all out the window and start everyone at the same place.
So it’s starting more people too high than too low, since 2500 is above the median SR.