Yes, this matches my experience from a few days ago on my original Nest Hello(Pre-google buy out). Initially there was only one version. I do not know if the current "Wired" V2 after google bought them is identical or not.

This seems to have fixed my original Nest Hello(Pre-google buy out) that had after years of very reliable use started disconnecting and shutting down until it ultimately would only record a few seconds and then shutdown for hours again. As Clark Moore(above comment) said, you only need to get to step 4. No need to keep disassembling. The o-ring did not seem to require replacement, though I did apply some pure silicone grease to help it seal and hopefully make the inevitable next replacement easier. In the instruction it was not clear to me, but if you look closely at the pictures for step 4 there are 2 snap fitting on each end and on each side. This information may help in step 3. Mine was much harder to pry out than I had expected. Good luck, and thanks to those who provided info!