It might be like thinking about whether a "TSA lock" increases security. One might say that it increases security because it allows TSA to check the contents of people's belongings more easily, or that it decreases security because it can allow anyone with brief physical access to a bag to steal its contents.
Edit: the sibling comment also points out a likely use about recognizing your own devices. If you let Google spy on you more, it can more accurately determine what is usual or unusual for you, in order to distinguish you from an impersonator. You might also not want Google or others to have this information.
This measure helps protect Google. And much like a politician stretching the definition of the national interest to include themselves, Google might say that they're protecting you by protecting themselves.
I have a password manager. My Google password is a long, unique string of random characters that I don't use on any other service. If someone does break into my Google account, it will be because they broke into my password manager and/or successfully phished me (or hit me on the head with a $5 wrench). Number of retries will have nothing to do with it, unless they have a computer from the future.
I am much more concerned about Google locking me out of my account some day in an attempt to stop someone from breaking in, then I am about someone else actually breaking in.
> Last year, we announced that we would require JavaScript to be enabled in your browser when you sign in so that we can run a risk assessment whenever credentials are entered on a sign-in page and block the sign-in if we suspect an attack. This is yet another layer of protection on top of existing safeguards like Safe Browsing warnings, Gmail spam filters, and account sign-in challenges.