So thinking of getting my Pixel rooted so I can run NSG. If I’m understanding this all right, currently I can get this done but will lose the squeeze thing?
If you're on the February OTA already, then yes, at least for now. If you're still on January, stay there and everything works. Or if you don't mind wiping (or if you have to wipe anyway to bootloader unlock), then revert to January and root that build.
Root itself won't cause you to lose squeeze though, it's just the vendor.img needed for NSG in February.
Hopefully it's fixed in the March OTA. It seems like Google broke a bunch of drivers in the February userdebug version of vendor.img