> a bit weird to think about it since google has literally internet.zip in multiple versions over the years, all of email, all of usenet, all of the videos, all of the music, all of the user's search interest, ads, everything..

Yeah, Google totally has a moat. Them saying that they have no moat doesn't magically make that moat go away.

They also own the entire vertical which none of the competitors do - all their competitors have to buy compute from someone who makes a profit just on compute (Nvidia, for example). Google owns the entire vertical, from silicon to end-user.

It would be crazy if they can't make this work.