No thats not how it works Dan. He kicks down past his neutrally buoyant depth, then he becomes more and more negatively buoyant as he descends. BUT not until he reaches his neutrally buoyant depth.
When free diving the first thing you do is run your line, and then set your neutrally buoyant depth. This is so the safety diver can swim down to you at that depth when you ascend to make sure you're not having a shallow water blackout. These are unfortunately kind of common.
So he exerted energy to make it past his neutrally buoyant point, THEN he became negatively buoyant. If you are breathing on a regulator and your lungs don't collapse, then you will ALWAYS be positively buoyant, without a BCD, tank and weights.
Which is also another advantage to ditching your BCD in an emergency situation when solo diving, because you may blackout on the ascent with your BCD on and it could drown you. Kind of what happened to Rob Stewart. His rebreather drowned him.