I stopped here: The residency program is similar to a top Master’s or PhD program in deep learning. If you accept that a Master's program is contained within a PhD program, and this residency is similar to a PhD program in deep learning from a top school, then this would be the fastest PhD-like (revised from equivalent which is too strong of a claim) program ever. Only 12 months and a google badge!
I submit the connections at Google are unbelievable. It seems reasonable that you could in fact learn substantially faster in that environment. I don't know if you can cram 6-7 years into one, but maybe in 2-3.
In my experience (which, admittedly, has only involved much less flexible corporations than Google), you don't get to the level of responsibility you have as a PhD student or postdoc until you've been with a large corporation for >20 years.
I admit I have a slightly skewed view, but I've very skeptical that this is anywhere close to a complete PhD program.
It looks a lot more like a 1-year internship on an R&D team. Still a very good and useful thing, but you're not the one responsible for completion of projects.