No it isn't. Wellman is interested in the formation and definition of community, and social network theory. This work is interesting, but is not the same as connectivism, which is a theory about knowledge and learning.
What you'll find in connectivism, but not in Wellman:
- 'to know' is to be organized in a certain way, as in a set of connections (such that 'to know x' is to recognize x)
- 'to learn' is to to grow, adapt and change that organizations, ie., to grow and shape connections
Contrast with Wellman, who when he talks about knowledge, talks in information-theoretic terms, such as 'knowledge transfer' or 'knowledge mobilization'. He depicts networks as conduits of knowledge, rather than as instances of knowledge.
Finally, though I am indeed the person who coined and described e-learning 2.0 (based on the earlier concept of web 2.0) I am not trying to "sell" it, or MOOCs, or connectivism. People can decide for themselves, based on the evidence, whether any of these concepts has any merit.