Kinda surprised. Google's core business is advertising. Some vertically integrated aux services (like chrome) feel ripe for antitrust, but I wasn't expecting ads themselves. What is Google without ads?
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Everything else. Cloud provider, operating systems, browsers, hosting business apps, phone licenser, Internet provider, smart home manufacturer, and various moonshots. Their ad company is a monopoly because of those other services.
Google as an ad company that can't leverage those other lines of business to gain an advantage over other ad companies still has a viable ad business. They can compete on the basis of that lone company's strengths.
("If you're nothing without this suit, then you shouldn't have it")