Sort of.
Not a stupid question, the answer takes some explaining.
When shooting video, simply using the "HQ" mode gives you the equivalent of 40mm/55 degrees FOV (up from 28mm/77 degrees FOV), with no quality loss. You actually get an increase in quality by using HQ mode because the drone uses a 1:1 pixel area for 4K in that mode rather than subsampling from the full sensor area. It's easy to toggle between these in the DJI app. This is the exact same basic principle as using an APS-C ("crop") sensor vs a Full Frame sensor if you are familiar with DSLRs.
Also when shooting video, if you are OK with a 1080P (or lower) output resolution, simply shooting in 4K allows you to zoom losslessly up to ~200% or more in post processing. This is not unique to the
M2P, you can do this with any 4K video footage and is often advertised as "lossless digital zoom", with the caveat that your output resolution will be lower. It's basically just cropping the image.
To my knowledge you can't do any digital zooming while recording, but there are ways to "zoom" with the
M2P, described above. It's not really something you would want to do anyway if you are shooting in 4K because any digital zooming would mean you are no longer shooting 4K.