I think we all appreciate that this person went to b-school and therefore is well trained in using buzz words and maximizing quarterly profits, but Google works because unlike most other dot coms, it does deliver products to generate a profit, not just data that one day may be used for a profit.
To be honest Google search now sucks and any actual consumer products are too expensive to provide any value. Like MS, google end user products are only affordable because the manufacturers take a hit on profits. This is why Apple has only a small share of the mobile phone market, but most of the profits.
So at the end of the day, all Google has is the apps. And the killer app, google docs, has not been updated in a long time. Maps has credible competitors. Bing under new owners could be a player, which it wasn't with MS because it was just a small cog in huge machine. Google can be forgiven because it provides descent products for no cost, even if those products are crappy. It is like broadcast TV. People will watch it, and maybe buy some of the stuff in the ads, because what else is there to do?
But Google without apps, with only search, is going to be highly vulnerable. At some point someone is going to figure a way to compete with Google, and if all Google has to back up ads is search, they are going to be easy pickings.