No need for plaintext on Google servers. No way for monetization by Google.
Or to put my alternative another way, how much is a data set mapping WiFi passwords to networks for the city of Bejing worth to a foreign intelligence agency or other state-level actor? An answer in terms of dollars or 1000 clicks is equally acceptable.
As an alternative, how much is such a data set for Redmond worth to Google?
For extra credit, determine the value of each data set if includes historic data on password changes, changes to the individual password repositories of each user, and changes to the densities of WiFi networks at specific locations.
In the end, it comes down to money in Google's bank account, not delighting users (see Reader). Since Google does not directly profit from the sale of nearly all Android devices, the burden for the thesis of delight is to show an alternative mechanism by which Google directly profits from the plain text storage of passwords.