The core issue here is that Google does not effectively verify ownership of vanity URLs displayed to users. You may not ever connect to the vanity URL in the first place.
I don’t think it’s reasonable to expect zero link fraud facilitated by Google, in the same way I don’t expect zero money laundering facilitated through banks. But banks are heavily regulated and (at a minimum) have to go through the motions of KYC and disrupting illegal activity.
I think the issue here is we have allowed online platforms to reap the rewards of scale without requiring any responsibility of serving a billion+ people. Internalize rewards, externalize responsibility.