The current Pabst Brewing Company adopted the name after the bought the brand. They already had already swallowed several breweries. They switched to the more famous name when they bought the brand, as Nations Bank did when they bought Bank of America, and SBC did when they bought AT&T. Well, something like that. As noted previously, they don't actually brew any beer now, not that there's anything wrong with that.
I'm still a huge fan of Sierra Nevada, although I admit that my taste and preferences have moved away from their beer a bit. I like bolder, hoppier beers, and I try to buy as locally as possible. SNPA still my go-to when I am faced with limited options.
Even though they are a big brewer (fourth largest in the country), they still just have the one facility. Their tour, unlike tours of other big breweries, is all about the beer. They continue to experiment with new beers, although few of those leave northern California, and a few never leave Chico.
When I visited a couple of years ago my sampler at the restaurant/bar was eighteen different beers.