I believe that is correct. However, at 5.0 the machine would generate very little useful electricity. It would use all energy just to keep itself going. To make useful energy I believe ratio would have to be 10 or 20.
I do not know of any reason to think 10 or 20 cannot be achieved.
If the Ne-22 producing reaction runs to completion and gets to the lowest energy states, the cold fusion reaction to produce Ne-22 would be as follows: 4H2O = CO2 + 3H2 + 22Ne. There is a water shift reaction due to the carbon production and due to reacting oxygen-17. Chemical variations happen such as hydrogen leaking out, hydrogen reacting to water, and carbon monoxide rather than carbon dioxide being produced from de novo carbon. Further, much of the oxygen-17 might be lost to water and other oxides rather than remaining active enough to fuse then fission to final products above.
Assuming based on the above equation that 5 moles of gas are expected for every 4 moles of water and that water that is lost is not a gas, then one calculates the energy yield assuming no entropy as 3.14 kWh per ml of gas produced at STP. This energy yield does not include the fuel value of the hydrogen produced. But if half of the oxygen-17 doesn’t react to Neon then the energy production from that portion of oxygen-17 is lost. Half of net energy comes from this second nuclear reaction. Further, the coulomb barrier for the oxygen-17 to oxygen-17 fusion is a little over 13.06 MeV. However, if none of the energy from nuclear reaction is released from the charge cluster until final fission then the reaction is possible since the overall energy produced is 13.13 MeV. Hence, the reaction could be catalyzed by the enormous energy trapped by the electro-gravity of the charge cluster. The more oxygen-17 that does not go to completion to produce Neon-22 then the lower the rate of reaction to produce Neon-22.
The greater the amount of entropy produced then the greater percentage of reaction completion. However, the greater the amount of entropy produced then the lower the energy yield (enthalpy).
What we have seen is that the cold fusion reaction of deuterium and oxygen to produce nitrogen is very high entropy (Santilli's intermediate fusion). The heat yield relative to calculated yield based on no entropy is about 4/10,000. It is supposed that the production of strange radiation is the source of the high entropy, since strange radiation is the production of large numbers of new mass states. For example, the pixel by pixel development of an image of Matsumoto’s blackhole.
There is a potential for a high COP for the Neon-22 producing reaction but only because we have no idea what entropy yield is required to cause it to happen. As a note of encouragement, based on the nitrogen producing reaction, one would not expect the yield to be below 0.00125 kWh per ml of gas produced.