Shoot me now, OK?? I mean really?? No, Google isn't reviving RSS, because it isn't a living thing and doesn't need reviving. Not only that, but it's been around long after Google reader shut down.
Most of us have found our RSS reader replacements by now. Not only that, but we're sticking with them. Google isn't bringing back reader, they're just putting back RSS in the browser. For heaven's sake, maybe they'll actually fix RSS preview in Chrome one of these days, OMG!!!