There is something that I call the paradox of Google. The only real content which Google makes that I can think of is their front page doodles. They are an entirely service focused company. For the most part google products fall into two categories: Services which serve advertisements, or services which feed into category one. Their entire strategy is to use content created by other people (websites in search, videos in youtube, etc.) to give a reason to provide content people pay them for you to see (ads.) Therefor the paradox lies in this: In order to grow and thrive as a company they must keep the internet free. If the web is monopolized by a small number of large corporations, the need for Google to facilitate access to a large number of small websites diminishes. Youtube is their most resilient platform to this notion, and even it requires companies to remain small enough where using Youtube's service still makes sense. Also, this is why I think their products are so good: Every last little bit of quality in a product allows that much larger of a company to still find it more useful to use Google as their gateway to the web.
So all in all, having a major website be an isp may be dangerous, but powers which guide Google guide it to be an open portal to a free web, instead of being the one stop content shop. In fact, I think this is possibly their biggest driver for doing fiber: to ensure the later doesn't happen.
This was true until Google started making phones and tablets and opened the Google Play store and Google Apps for business and ...
Actually wait.... Google has been "making [and selling] content] for a while. Their main business might still be search advertising, but that doesn't mean that rerouting the pipes won't benefit them and absolutely destroy others.
What about a phone is content? Content is something you spend time watching, or playing - nothing google sells is content, it's all service. All of their content is derived from other people, and they enable content creation on a grand scale. With the exception of a few google blogs and videos, it's all a way to get where you're going, not a thing in itself.
The day there's a google studios, or google game production, or google music labels, they'll be creating content.
A phone is not a service, it's a good and a platform for serving more goods/content in the form of the Google Play store.
What about YouTube or Maps or Apps? YouTube produces it's own content, as does Google Maps.
Again, Google today is not Google c. 2002. They produce massive amounts of content and goods, and being able to control the full distribution pipeline for said content and goods could end up being a significant anti-trust issue.
