Yes, it looks like a pretty bad case of splayed leg. Without treatment, the chick will never walk and will die. BUT we can treat it pretty easy with a hobble.
1) take the chick by the back. It is easier if you have another person to hold him/her, as chicks don't like to be on their back for very long!
2) I used a bit of very thin foam or gauze around about 2/3 of the lower leg (Not around the joint or haulks) leaving the inside of the leg without gauze or foam. This makes it so the hobble does not cut off circulation.
3) use medical tape, the sticky part of a band aid, or vet trap *it doesn't work as well* and wrap around the foam or gauze to space the legs at a proper distance from each other. The legs should be placed under the chick now, but if it is having to much trouble, you can loosen the hobble a smidge and gradually tighten it over about 2 weeks.
4) place the chick back in the brooder. You will need to assist with drinking for the first day, and the chick will be quite wobbly and fall over ofter as it learns to walk properly.
I would suggest before you make the hobble to look up some Google images of what a proper hobble looks like. The sooner you can get the chick in the hobble the better, as their bones get harder and take more to fix over time. Send me a picture after the hobble is completed and show me how the chick walks afterwords. Sorry for the long post... There's just a lot to say! Your chick can get through 'hobble thearpy' and walk perfectly normal for their entire lives!