Yes, you're observing a real trend in the tech industry. The lines between the roles of UX Designers and Product Designers are indeed blurring.
While traditionally UX Designers focused mainly on user research, wireframing, prototyping, and usability testing, their role is evolving. More and more companies are recognizing the value of integrating user experience principles into every stage of the product development process, leading to UX Designers taking on a more holistic approach which is essentially the core of a Product Designer's role.
Product Designers typically oversee the entire product development process from ideation to launch. This involves not just design but also understanding business goals, strategy, and technical constraints, as well as working closely with stakeholders like the product management team, marketing, and engineering.