Google clearly has a monopoly. Eventually they will abuse it, even if they're not doing so already (which is open to debate). The stronger their control, the more damage they will do and the harder it will be to release ourselves from it.
Monopolies are bad, although sometimes they are the least bad choice. I see plenty of good alternatives to Google's monopoly.
The more I think about it, the more it seems as thought we need to put a price tag on the data companies collect about users. Google may be raising prices all the time by tracking more and more data about you, but this is completely opaque because even though information is "the new oil" no one puts a real price tag on it.
Couldn't it be argued that Google's featured snippets and accelerated mobile pages will lower the revenue of content creators and thus decrease consumer surplus in the long term?
Google lawyers have undoubtedly analysed the case with a fine toothed comb and would likely use the permissive open source licenses under which it provides Android and Chrome sources (and allows manufacturers to roll their own versions) to argue they don't restrict anyone.
For public policy, the existence of a monopoly is neither here nor there. Monopolies are problem ONLY IF their operations causes negative economic effects to consumers - typically by raising prices. Indeed in many cases (eg. Transport, Infrastructure) a monopoly is actively granted in return for guaranteed availability and pricing.
In Google's case, it would be very very difficult for any lawyer to show how their actions actively hurt consumers - note consumers, not businesses.