It purely is just the new name from what was the broken nearby system, but with grass.
They are also trailing a new system (for a very few select lucky few) who get to see a nearby with a picture of the nearby pokestop instead of the grass. Clicking/selecting that pokemon/pokestop will then show you where that pokestop is in relation to you and also if it leaves before you get there you get a warning saying that it has fled.
Has anybody seen this new system though? Noone I know has it 🙁