Exactly my thought. The profit margins for Google are never going to be higher than they are right now -- the next billion people aren't going to be able to afford the $150 jeans Google is showing me ads for... and the billion after that are going to be even poorer. When you're wondering where your next meal is coming from, you probably aren't going to spend a lot of time on Google+.
The idea that Google is going to make money on subscription services is dubious. It's a business model (hello, AOL!) that doesn't work, even in markets that actually have money to spend on such things.