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It is, but it doesn’t rank very highly. There’s two reasons for that: lemmy is still somewhat new, and so the domains don’t have much authority (backlinks).
The second reason is lemmy sites are probably considered low-value because of federation; content gets duplicated on 100 different domains from a single one. This is a problem mastodon probably has as well, because do you remember the last time you got a mastodon result in your google search?
Search engines hate duplicated content and will drive it down from their results, but they’ll still index it. If you type “site:lemmygrad.ml” on google, we do show up. Just not very high in normal searches.