It’s a feature not a product. Not everything has to be about profit and loss if it’s part of a larger ecosystem. Google Cloud Print was a feature of Android as well as other parts of Google’s ecosystem just like AirPrint is a feature of iOS/MacOS.
But Google has always been piss poor at managing an ecosystem. Just look at the state of Android updates.
I don't think this is google specific. Keeping a dead product on life support is going to get boring for most people after a while.