Revenue might be going up, but are they actually providing additional value to users? Or just gutting them more thoroughly?
I look at the amount of utility that Google's products provided back in 2013, and I look at how much they provide now. Can't say the improvement has been anywhere close to stock price
Or measuring the utility to advertisers on Google’s platforms in 2023 and projected into 2033, many of whom weren’t using Google ads in 2013.
Google didn’t give me individually a ton more utility (arguably less in search), but I think it did give their actual customers (advertisers) a ton more utility in aggregate.
The stock price I'd not a reflection of utility. Its a reflection of future profit.
As a user, you are not Google's customer. Their customer is the advertiser, and the utility to them is just fine. Advertising on Google and Facebook delivers measurable returns, and if that measure is positive then people continue to do it.