That portrayal is somewhat accurate for in vivo regeneration. What basically happens is that some of the processes during embryogenesis would be retriggered, resulting in a regenerative event. Though there would be a fairly large difference in what it would look like.

In embryogenesis, the bioelectric patterns dictating morphological goals like "the left side of the head goes here" and "build cardiac nerves here" gradually shift as the organism develops. The goal isn't to build an adult from the get go, the goal is to build the next stage on the way to eventual adulthood. This results in a relatively complete body that becomes more complex and larger over time. This is also why morphological goals are stored in volatile bioelectric networks instead of stable formats like DNA. They need to be modified at will both by developmental events and by other cells that need to coordinate with their neighbors.

With artificially induced morphogenesis, particularly in an adult, the bioelectric patterns would be for a complete adult anatomical structure at the very start; no gradual development here. In the case of an arm, for instance, this would result in growth coming from the stump that would begin forming the adult fingers of the hand very early on. It would look somewhat like a tree as all the parts of the limb would generate concurrently towards the adult shape instead of interim shapes like those of a child or adolescent.