No it does not mean that. It's not "shameful joy". It's joy at someone else's misfortune.
"Schaden" means literally "harm". "Schamfreude" or "Beschaemende Freute" would be "shameful joy", but that's not a word or expression that anyone uses.
"Schaden" means literally "harm". "Schamfreude" or "Beschaemende Freute" would be "shameful joy", but that's not a word or expression that anyone uses.
A pretty negative view towards fellow humans.