That is what is suggested. It's weird. It's Geoff Johns in JSA who went to such pains to make Adam a semi-sympathetic anti-hero and it was the same Geoff Johns who gave him a family (Isis and Osiris, who were created just to be killed in 52) and it was the same Geoff Johns who turned Adam into a neigh-unstoppable genocidal killer and it was the same Geoff Johns who gave us this "new" origin for BA (which is actually a retcon of Johns' own previous origin) - which yeah it makes sense if you take idealistic and hopeful Aman as a proto-Billy Batson, except Geoff Johns gave us Billy BRATson in the DCnU because he said readers (i.e. males 18-40, certainly not little kids) couldn't relate to an orphan who is sunny and optimistic.

Back in the day during when Black Adam was all over the place and Billy/Cap and Mary/Freddy were MIA, I remember a lot of people saying that as for as DC was concerned Black Adam was now the face of the Shazam franchise. And when you see the kind of stuff DC puts out that kind of thinking makes a lot of sense.