Nope, Google bought Waze and left them as seperate apps. they may share some common backend but they have their own algorithms.
Waze is for driving only where Google Maps has public transport and pedestrian support.
Apple Maps is also great in some areas, like in the US and Europe. I found it great on the US West Coast for instance.
Waze tries to take you the quickest route and seems to avoid major roads where Google Maps does take you on major roads and conventional. Waze therefore has the danger of going through dangerous areas.
A couple weeks back, I used Waze and Google Maps to get from Sandton central to Fourways. Google Maps was pretty much down William Nicol where Waze had me zig zagging around all the roads, it did save me about 2 mins and avoid sitting at some traffic lights. PRoblem would be if everyone used Waze then all the side streets will be clogged, especially resedential areas and everyone will be up in arms with the road noise and safety with everyone speeding down side streets. In many cases those side streets have speed bumps. Therefore putting wear and tear on a car. Sticking to the main roads is probably best for the greater good.
Waze also uses street names in the navigation which Google Maps doesn't.
Google Maps supports Blue Tooth Call navigation, which means I can listen to the radio and get directions over my car sound system as phone call works, where Waze currently doesn't support that, so you need to be in Blue Tooth mode on the sound system or switch to use the phone speaker to get your directions.