It’s like an Oil Rich Nation. Pumping oil is the only thing they know. They’ll build shiny cities, crazy buildings, and fund moonshots. But nothing else will compare to the profits of oil/ads, so nothing else can possibly matter.
The only big oil economy that isn’t totally dependent on their energy industry is the US, and only because we had other natural resources that allowed us to diversify early.
To divest Google from ads they need another source of infinite cash. If you can discover that, it’s way more valuable to you on its own instead of within Google. Maybe they can find a few thousand smaller side businesses to supplement revenue, but they’ll always be individually disposable (as we see now) and subject to cancellation.
That said, yes there are a lot of SWEs and projects that are wasting engineering talent.
I’m guessing you were closer to the hardware than me, and also left at least several years ago, but I’m under the impression that the rest of industry has mostly caught up to where Google was in DC tech. They’re still at the tip of the spear with things like ML and unmatched in sheer scale, it’s just that the rest of the world has had a lot of time to play catch up.
(I worked the first couple years in display ads, then some time on Jetstream/Google WiFi then some very brief time in Fiber, then many years in DSPA/Nest, and then for my last year in some Core stuff. So I only got to really use Borg & friends for the first two years and last year of my time there. Left two years ago.)
All the ore reason to mourn as the Bell labs output benefited humanity while the Google innovations are poised to disappear when the company fails.
The real innovation at Google is internal and invisible to you -- often secret, maybe kind of boring, but totally transformational. It's infrastructure and its support. And all those moonshot things and stuff were mainly PR, sideshows, and not the primary focus of the company's brains.
And they ke thing is Google doesn't/didn't have to be productive" for these moonshot types of projects. As a % of headcount they are fairly low, even. The real money comes from ads ads ads and always will. The rest (non-ads/non-search) of the company is there to capture SWE headcount from the rest of the industry, not to produce monetary value for Google. The ad revenue firehose is so incredible that it was inevitable it would turn into a swamp of misused potential like you describe.
The real innovation in Google is the stuff that people on this forum don't see. Because it's mostly secret or invisible. It's giant data centres using a pile of custom technology to eek out massive throughput, more fiber and Internet backbone than you can imagine. And the SREs and ops people who keep all this stuff running.
All to keep that firehose running. The rest is all sideshow. I was a SWE at Google, but the real talent there is SRE and infra development.