The presentation was amazing and I can definitely believe is influenced leadership at Google to make a product that was "better" for people who have complicated social networks (the "I want to go to a rave on the weekend and share those photos with my friends, and then go to a wedding and share the photos with my parents" problem).
it's unfortunate the the leadership (mainly Vic but enabled by a bunch of other people) ran with this idea but ended up making such a dislikable product.
Anecdote: when Google+ Events launched at IO, I had to give up my practice spot on stage so that Vic could practice his product demo. Events is now gone- it wasn't very popular- but the product I demo'd (Google Compute Engine) is now a major source of growth. Oh, and the other reason I didn't get to practice was Sergey practicing the launch demo for Google Glass (the amazing parachute jump). That's also a product that is in the dustbin. AFAICT the leadership just didn't understand how badly it understood the market for social, cloud, and consumer products.