Google has at least 10x as many employees as it needs. That's based on decades of revenue being decoupled from costs, and from monopoly profits. It's the double-whammy of being in tech (where costs and revenues don't couple since incremental costs are close to zero), and having a super-profitable monopoly.
You can't fire 90% of the workforce; even morale and culture problems aside, at this point, the organization is structured to need too many people. On the other hand, organizing over 100k employees turns into this superorganism problem.
At >100k employees, the influence of anyone -- up to and including the CEO -- is very, very limited. Dynamics take over.
I've been bearish on Google for a long time, but I haven't shorted the stock. Market irrationality can last a lot longer than my wallet. Fundamentally, though, one could muscle through building a new, better Google for much less than the valuation of Google.
Google could also be worth a lot more with a breakup. There is negative synergy between, for example, advertising, Google Workspace, Android, hosting, etc. If those were independent businesses, with partnerships around things like data sharing, the total value could be much higher. Alphabet was a move in the right direction, but the move should have been much deeper. Right now, Alphabet is Google + a bunch of tiny startups.