No. In 3.x the default setting was Greyhawk. It made sense that the material in the PHB (the gods and stuff) were from Greyhawk. If you were using a different one of their settings (or your own) you could change that. Also, more importantly, they didn't put more Greyhawk in the game than they needed to. None of the feat names in the PHB, for example, were specific to Greyhawk.
In 4.x, however, they're doing something strange. In which of their settings did Arkhosia exist? Is their implied PHB setting different from all of the settings that they plan to release? If so, why go wild with the setting specific feat names? They're releasing FR next, so perhaps they'll squeeze all the fluff in the 4e PHB into the realms history? I don't see the logic and don't like or get what they're doing with the (very campaign specific) PHB.