Well, that's one way to look at it, I suppose.
On the other hand, to me, the Pledge is "to the Flag of the United States of America, and to the Republic for which it stands," the one nation — the American nation (that is, We the People) — which the DoI recognizes as a nation "under God."
Note to recognize a nation "under God" is to say that our unalienable rights are not grants of the government, but of the God Who created all men equal.
It is in no sense a pledge of fidelity — a "loyalty oath" — to the federal government.
Governments change. The values that made and make America a good and just and strong nation do not. To say the Pledge is to remind oneself of that fact.
Just my two cents' worth.
To be honest that is a way to look at it, but it is not the way the pledge was intended by the devout socialist who wrote the Pledge of Allegiance.
If I were to alter the pledge I would remove the words “one nation”, “indivisible”, and replace the word “the” with “theses”. I would also replace the word “flag” with the word “Constitution” and the word “for” with the word “over”.
If there must be a pledge at all to the Federal Government it should look like this:
“I pledge allegiance to the Constitution of these United States of America, and to the republic over which it stands under God, with liberty and justice for all.”