The speedup from traditional MPLS already comes from the simple next-hop only lookup required by the router. There's no complicated decision making going on. Something central still manages the labels, that's the complexity but that's not new either.

Google still buy and use a ton of traditional mega (tera) high bandwidth networking gear. All of which will support regular label switching. But that doesn't sound cool and exciting so they always play that down. They can spin it that way if they like, network hardware vendors don't care because they are still selling them their boxes.