Mike Masnick makes great points in this regard, the best of which is (emphasis mine):

So, for startups whose strategy is to get acquired by Google (and, I should note, if you start with that strategy, you’re probably going to fail)…

I have no opinion on the specific matter. But, just the other day a colleague and I discussed the fact that since Google has such an enormous (and ongoing) investment in proprietary computing infrastructure, they might be vulnerable to “evolutionary jumps” in computing technology some time in the future.