True - that's all it does.
But it is not all it *could* do :-}
But, TBH, I wasn't seriously expecting any other outcome......

>No, I don't think so. It's creating a property of type Nester that won't really exist until you run it. All the compiler does is verify that Nester is defined.
>
>>

public class Program
>>    {
>>        static void Main(string[] args)
>>        {
>>            Nester n = new Nester();
>>        }
>>    }
>>
>>    public class Nester
>>    {
>>        public Nester nested = new Nester();
>>    }