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I agree with that characterization of Google's strategy, and I actually like them for it. -It's rare to see such a large company take so many chances. However, I think that Facebook's huge ad network might have convinced Google that they need to get serious about building a social network. Google has most of its eggs in the search-based advertising basket, and I'd wager that they see a social network as an effective way to leverage AdWords.
For this reason, my guess is that they are more interested in Google+ sticking than most shit they throw at the wall.