Talking is easy, Coding is Hard. Servo is still the most important aspect of Mozilla in terms of Security and Speed, I really think after the full development it will definitely beat the Google Chrome.
I would be unsurprised if Google were quietly doing something similar, of course, particularly with Mozilla having been quite open about this project for several years.
That's a bit apples to oranges comparison, no? One thing Servo didn't touch is JS Virtual machine, it's still SpiderMonkey. Rewriting that AND the layout engine would be suicidal.