The Moto Google phone was basically thought up before moto was even purchased! Its basically along with the patents the reason why Google purchased Motorola in the 1st place. And I for one couldn't have been more pleased at the time, and even more pleased and excited at the moment.
However with that said, I don't think the Moto branded Google phone will wear a nexus badge. I actually think this phone will put the nexus badge to sleep and we will basically see the beginning of what a lot of us have been waiting for...The One and Only Google Phone! Honestly there might not even be a Motorola badge on the phone either, I'm hoping for the beginning of Google really getting set to do big things like opening up retail stores and selling only they're devices like Apple does. Which if I have my way will be computers, tablets, and of course phones all branded by Google, and sold by Google...That would mark the beginning of what I feel will be Google's domination.
If you combine pure Android, along with today's best technology and Motorola's awesome build quality, rock solid internal radios, superb phone call quality and unbelievable battery life like the maxx line and brand it the Google phone, you will have something that will undoubtedly be huge and be going head to head with whatever Apple decides to put out next.