In general his portrayal is accurate:
The backstory and primary features of Georges Méliès' life as depicted
in the film are largely accurate: He became interested in film after
seeing a demonstration of the Lumière brothers' camera; he was a
magician and toymaker; he experimented with automata; he owned a
theatre (Theatre Robert-Houdin); he was forced into bankruptcy; his
film stock was reportedly melted down for its celluloid; he became a
toy salesman at the Montparnasse station, and he was eventually
awarded the Légion d'honneur medal after a period of terrible neglect.
Many of the early silent films shown in the movie are Méliès's actual
works, such as Le voyage dans la lune (1902).
And yes, he has burned some of his films and sets:
That same year Pathé was finally able to take over Star Films and the
Montreuil studio. In a rage, Méliès burned all of the negatives of his
films that he had stored at the Montreuil studio, as well as most of
the sets and costumes. As a result, many of his films do not exist
It seems that the main differences are related to his family life:
(...) the film does not mention Méliès' two children, his brother
Gaston (who worked with Méliès during his film-making career), or his
first wife Eugénie, who was married to Méliès during the time he made
films (and who died in 1913). The film shows Méliès married to Jeanne
d'Alcy during their filmmaking period, when in reality they did not
marry until 1925.