To be honest, this is the first time someone has spelt it out in a nicely succinct paragraph.

And just like that, I totally agree with you

Except it ignores the entire premise of copyright which is to protect incentives to create original work, which Google does not destroy and which LLMs (very loudly and proudly) try to do.

There are several components of the Fair Use test, "transformation" is just one of them. The most important dimension is the effect on the market, i.e. the effect on incentives.

You probably shouldn't base your legal analysis on pithy internet comments regardless of how succinct or agreeable they are to you.