Hi @zacharyholland,
Welcome to the Community!
You have it right: The prefix on the root user_id is the provider which provided the details used to construct the original user profile. The component after the | is the user’s unique identifier within that provider. In this case google-oauth2 means a profile that was constructed from a Google Social login user.
The identities array allow you to link other identities / logins to the same user profile.