No, it's air-flow. The bellows force air through a series of valved reed blocks, which in turn are controlled via the external buttons and keys. Opening different valves allows air to escape through the reeds, producing sound. That's really all accordion players are doing; no magic is involved!

Thanks. But when I say magic I guess I'm not referring to the technology that makes this thing make sound but the actual use of it to make sounds that sound like music. I can only imagine first lessons on this thing sound like the deaths of a herd of cattle.

As a (former) accordion player, I can confirm that somehow, both of you are simultaneously correct. Herd of dying cattle doesn't even begin to do it justice.