Not at all. Non-thinking flash is... flash with the thinking budget set to 0 (which you can still run that way, just at 2x input 4x output pricing). Flash-lite is far weaker, unusable for the overwhelming majority of usecases of flash. A quick glance at the benchmark reveals this.
Yeah, so basically their announcement is "good news, we tripled the price, and will deprecate Gemini Flash 2.0 asap"
The OP says Flash-Lite has thinking and non-thinking, so it’s not that simple.