Google managed to ride two subsequent waves: web (not pc which came before) and mobile. Between Glass and Magic Leap, they're well on their way to catch the third wave of virtual/augmented reality.
And native adverts, really? Let's hope this is not the grand industry of the future. Not for Google's sake but for our own.
Claiming that VR/AR is a wave on the same order of magnitude as mobile a bold statement. Mostly AR/VR extend existing waves. They make gaming better. They make mobile better. They are not by themselves the same kind of shift as PC -> Mobile.
Claiming that virtual reality is a wave on the same order of magnitude as mobile is an understatement. High fidelity virtual reality will change the way we communicate. It'll change the way we live.
I think it's a little early to tell if it's a failed product. It might be in terms of unit sales, but I'm sure that in terms of the knowledge and understanding of AR, Google are probably in a good position to capitalise on the (hopefully) coming AR/VR wave.
And native adverts, really? Let's hope this is not the grand industry of the future. Not for Google's sake but for our own.