You aren't missing anything. Tbe latest version of Moto Voice must surrender to OK Google and the newer GA (Google Assistant). I don't know who to blame but If like to whack then up side the head.
On my older phone, Droid Turbo, Moto Voice was all things and was truly hands free. Tbe Moto version was 4.o.35. My Z2 Play, "Show Me" has limited functionality and the activation of many functions require "Go Google".
Go Google is inferior in terms of hands free operation when compared to the older Wake Up Moto version and often requires you to "tap" tbe screen. Your indifferences to whether the older version handed of some functions to OK Google is somewhat valid. On my Droid Turbo, if I did go to activate the voice features of "GO Google", it would not allow it to happen. It's because the app launcher was all controlled by Moto. So, I assumed OK Google was shut off (still could use the Microphone icon to search, etc., which is independent in many ways from GO Google).
So, my friend, we are not crazy. A superb, hands free environment has been mucked up. If enough of us complain to Motorola, maybe they will restore Moto (Voice) to its previous glory. GO Google requires too much hands on, "hands free" operation.
If you can find my post, I have a couple of real world examples of how Moto used voice to resolve situations that Go Google requires screen touches.