no, it just means "believable." Without suggesting whether or not it is true.... just that it is worthy of belief.
The theory advanced by Jones was plausible, and the other chemists decided to investigate it.
Her explanation of her late arrival at the party is just barely plausible. (Suggesting that it's a lie.)
Blanchard's account of the causes of the First World War is in my opinion utterly implausible.

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