I'm finding conflicting information on this (sources are saying yes, others say no). I'm going to wait for either AnOminous or Useful Mistake to comment and then I'll uncritically repeat what they say forever.
The way I've heard it explained is that No Contest is acknowledging the case presented by the state is likely to result in guilty verdict but you are not explicitly pleading guilty to the charges. Allegedly this means certain appeal doors remain open which are otherwise foreclosed with an explicit guilty plea.
That said, it is functionally a guilty plea. So, for example,
if the prosecutors accept a no-contest plea for a felony charge, to my understanding
you're still a felon, and you're still convicted of the charge.
Im kinda surprised that the nick rekieta dumpster fire isn't more of a big deal. Like, it got the bare minimum internet commentators and news articles for it, but I kinda expected youtube lawyer being high on coke then the police showing up the next day be way more a bigger deal beyond the youtube sphere.
It's not as surprising as you might think, consider the following aspects:
1) There's no video of the arrest/search (yet). This is actually huge since it's just papers and DM leaks for the moment which do not make for engaging content on their own.
2) Lawtube is big-ish, but it's not THAT big, and within that niche Nick became more and more niche by becoming increasingly not-lawtube. He's also helped by his declining viewership at least in this specific context.
3) Documenting his decline is almost necessary to adequately explain what's going on, and there's just so much lore to sift through scattered about 2-6 hour livestreams over ~half a decade, making an omnibus breakdown a daunting task if you haven't been in the trenches for years.
4) He was at best adjacent to the more mainstream drama communities most of the time which works in his favor in this case.
5) Until the decline he was not a raging asshole to anyone who challenged him, so most chance encounters people have had with him were likely positive pre-decline, and if they haven't been following him, that will be their context. Going from "wholesome family man with a sharp tongue" or "that guy who made a million dollars streaming the Rittenhouse and Depp trials" to "raging cokehead lunatic" is enough contrast that outside of expressing shock, what are most people going to say?