Not as far as I'm concerned. Thankfully it's not the only way to zoom on the nexus, because it pretty much requires two hands to use, one to hold the phone and the other to pinch. I don't think any other function requires two hands on the nexus, although it is sometimes faster to type with two hands. (This messages was typed on my nexus).
On the Nexus, can you double-tap an area on a web page to zoom in to that area? That's one way of zooming in with one hand that I like on the iPhone. I'm just curious to see if Google brought that gesture to Android with the recent update.