I think the verdict is still out on if it is saved. Also, if they had done a better job of figuring out the implications of their features, maybe the product would have launched with positive press. At the very least, they could have taken the weekend off and not caused people to worry about their physical safety.
Buzz as a product may fail, but they did save Google as a whole from much worse publicity.
They took a serious hit as it is, but they did a good job of damage control once they realized it was necessary.