No, not necessarily. It only means that you have been deemed competitive for CONSIDERATION for an appointment...along with about 6000 other applicants if past history is any indication. I think the Academy typically eliminates about 4000 - 5000 applications from consideration each year since their initial review of those applications indicate that those individuals are "uncompetitive". I think USAFA receives between 10,000 and 11,000 applications each year. I think it was nearly 11,000 for the class of 2014.
I believe being deemed "competitive" may mean that your application will go before the board where it will at least be considered. Still a nice accomplishment. Good luck!