I think this is good news. Google has sometimes felt like it was pulled in two different directions - making the core business successful, and providing spinoff cash for the crazy projects. Having the same person run both of them seems like it will make management more efficient.

It probably means that a number of Larry and Sergey "pet projects" will become deprioritized. Good. Self-driving cars seem like they have great potential. I think that technology has the potential to make the entire Alphabet structure worthwhile. But it also seems like it should no longer need the Alphabet structure to protect itself.