not likely, get a multi-meter and verify the voltage output directly at battery and also at the alternator output while idling.
if you get fluctuation like it shows on the cluster then either the alternator is goofy, or the alternator cable is goofy or the battery cable or bad ground.
if you do not get the same fluctuation at the battery as you do on the cluster then there is something else going on but I wouldn't dig into that until you verify under the hood.
what was the reason for replacing the battery?