Yes, if you subscribe to the Bohr model of an electron in an atom as a moving particle, orbiting the nucleus. "Is it a perpetual motion machine of the '2nd kind' ?" No. First and second laws deal with conversion of heat into other forms of energy.
But, of course, the "Bohr" model was never considered, even by Bohr, to be a very accurate picture of the atom and has long been superceded by the "electron cloud" model.