If it's not, we can still rely on the parents field to compute it.
It seems to be working fine at first glance:
$ # in bash
$ echo $SHLVL
1
$ zsh
$ echo $SHLVL
2
...though SHLVL is defined in the Bash man page as follow:
SHLVL Incremented by one each time an instance of bash is started.
Maybe it's also used the same way by Zsh.
Pay now to fund the work behind this issue.
Get updates on progress being made.
Maintainer is rewarded once the issue is completed.
You're funding impactful open source efforts
You want to contribute to this effort
You want to get funding like this too