Yes, but it isn’t a pagan depiction because it’s being put up as an act of atheistic Satanism.
Also pre modern baphomet worship looks to be something that may have happened in Europe in the Middle Ages and seems to completely lack evidences (according to Wikipedia) of being more ancient.
There is absolutely a thing where Satanists will claim pagan deities though. I’m both annoyed and flummoxed by the infernal names in Laveyan Satanism as an Ishtar worshipper. First of all she’s the queen of heaven, not infernal and no lust isn’t evil you dipshits, and secondly Erishkagal isn’t on the list despite her having every reason to.
Yeah that’s kinda my point though for my first two paragraphs. Neopaganism and TST are very different religions. Even when they share depictions of similar things, but in this case it’s not. Baphomet has basically always been a symbol of opposition to Christianity. First as used by christians then claimed by those opposing them.
For my third paragraph, yeah Lavey didn’t know much about much and didn’t seem to care to learn. He also clearly didn’t care about misrepresenting religions that are still in constant practice from before the Roman Empire to now.