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Fun fact, just like the move is implied to be a pseudo Z-move Zygarde developed in its Alola trip the japanese name for Nihil Light is written in kanji like some Z-moves to give it that feeling of more complicated, serious business attack, the name is "Light that Returns to Nothing", which also sounds similar to Ultra Necrozma's move that is also obtained by changing forms, Light that Burns the Sky (or "Light that Scorches the Sky" in japanese). In spanish this Z-move connection is added by naming the move like the dragon type Z-move, Devastating Drake: The generic dragon Z-move is called Dracoaliento Devastador (Devastating Dracobreath) and Mega Zygarde's move is called Luz Devastadora (Devastating Light). Luz Devastadora is also similar to Luz Aniquiladora ("Annihilating Light") the spanish name for Floette's Light of Ruin move.
So yeah Mega Zygarde is basically Zygarde's mega working like a pseudoUltra Burst with its own pseudoDragon type Z-move that uses life energy's power like Eternal Floette, whose power is like the Ultimate Weapon's