No, apparently Nest is still both a brand and a coherent unit, but instead of a direct subsidiary of Alphabet it will be a unit inside the larger Google Hardware unit.

Apparently not.

>Nest's brand, known for the internet-connected thermostat it created in 2011, isn't going anywhere, Osterloh and Fawaz say.

https://www.cnet.com/news/google-and-nest-reunite-in-push-to...

Nest is no longer an alphabet.