Lol...everything in here is speculation.
What everyone is missing is that Google owns Motorola, and with that being said Google see's the Android platform on the same wavelengths as IOS. So why not use your own company to build a Super Phone and brand it the Google phone running your own OS...meaning the actual Google, like the iPhone is the Apple phone. If they do go with the Nexus brand that's fine also, I'm not opposed to that or against anything that's Nexus, I just think Google has bigger plans then just building a cheaply price off contract phone. If anything i'd rather them mirror the Apple way of late and partner with the carriers now and distribute the same phone on every carrier. Whether its the Google phone or the Nexus Phone, or whatever, it will indeed be a flagship device that is designed to make an impact in the mobile industry.
Now this can also swing the other way if Google does in fact come out with they're own wireless carrier which has be talked about for a while now, it was thought that maybe Google would buy Tmobile, but T-Mobile just announced they'd be carrying the iphone , so they're out. In any event, who knows what tricks Google has up they're sleeves. At the moment I'm really happy using my Nexus 4...