Because Google didn't rename to Alphabet. They created a parent company called Alphabet which owns Google and a bunch of other subsidiary companies, but Google is still itself and still wants to be called Google.

Whereas Facebook made a big announcement that they were renaming the company Meta. They asked to be called Meta.

Are there payrates at Alphabet lower than at Google? Typically, I have always read the acronym in relation to high paying jobs or high performing stocks.

I worked for what was technically an Alphabet company, and it was no different from working at Google. I was told, but never confirmed myself, that I worked for Google and Google contracted me out to the subsidiary. Maybe things have changed in the intervening 5 years since I was there, but this was something for the accountants and not something that affected everyday life.

Hiring a CFO from the banking industry did make it more difficult to get the free food, though. The cause and effect there was immediately noticeable.

I don't think they're lower, but they're different. Notably, Alphabet employees of the other Bets (Waymo, Loon, Verily, etc.) get stock in the bet rather than GOOG stock. This is privately held and so a lot less liquid than GOOG, and you lose your unvested shares if you transfer to the mothership. It has a lot of the same risk/reward tradeoffs as working for a startup.

Because MANGA is a better acronym than FAAAN

Definitely a way better acronym.