It's also conflating a bunch of stuff that goes into Google's valuation that isn't directly tied to ownership of your data. Once upon a time, Google just made a search engine, and that search engine quickly took over the world. Google made a lot of money plopping ads on search results long before you could create a Google account or store all your email there. Presumably, the technical ability to build products like that is worth actual money. If Google deleted all personal data, the company would not be worth $0.