This certainly appears to be the case. Upon my first installation of Newsstand, it came pre-loaded with a lot of tech and news publications--presumably based on the content I slap up in Google Search, Plus, and Now all the day long. (I am going to chalk up The Kit's inclusion to my wife commandeering my computer here and there).
According to a post on the official Android blog, the more you read, the better the app will get at discerning your tastes. While in this post-Snowden era, that should probably be more of a warning than a sales pitch. But, alas.
Over the next two days, isers in the US, Canada, and Australia will receive an update to their Google Play Magazines app, which will simply become Newsstand.
Users in other countries can download the app via the Play store. Currents users will find their feeds transferred into Newsstand when they upgrade the app.
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