Google has google.com, youtube, chrome, android, gmail, google map etc ... I don't see OpenAI having a product close to that.
Code is a commodity. Very easy to make. Now even llms are commodities. There are other intangible assets more valuable. Like the chatgpt brand here.
Of those, it's 50/50. The acquisitions were YT, Android, Maps. Search was obviously Google's original product, Chrome was an in-house effort to rejuvenate the web after IE had caused years of stagnation, and Gmail famously started as a 20% project.
There are of course criticisms that Google has not really created any major (say, billion-user) in-house products in the past 15 years.