It could be again though. Microsoft has already been through this hell and come out the other side. Google could too, although I suspect that it will require a similar change of leadership.
It wasn’t just a change in leadership, Microsoft also had an existential crisis. Apple, Google and Amazon threatened to make Microsoft irrelevant and the leadership at the time didn’t seem to know how to respond. I don’t think Google has reached that level of desperation yet, and it might need to before it can turn things around.
Yeah, but Microsoft reinvented itself a few times already. They started as a BASIC runtime vendor, switched to an office software suite vendor, then to an OS vendor and now to a cloud service provider.
Plus Microsoft was quite diversified very early on, about the time they started selling Office. Even now, they're the most diversified Big Tech regarding revenue, except for maybe Amazon.