I suppose if you're looking for a sound bite, yes.
But whereas Nintendo's chip was DRM, this Google chip appears to be more about determinism in boots and server provisioning, allowing them to immediately cut out a server that appears malicious or that has been compromised.
I.e. pry open case to insert an implant, chip notices bios has been altered, sends the "don't trust me" message to the network.
Makes me think of Intel's IME. It has legitimate uses on corporate desktops and servers. But when it makes its way to consumer desktops it runs face first into a massive conflict of interest.
IME's huge problem is its shroud of secrecy. The CPU can do just about anything on the bus, it has access to external ports, and the code it runs is encrypted.
From the viewpoint of a government agency, that's a tremendous surveillance enabler. It's really hard to imagine it's not been compromised.