Stories like this always annoy me, because they seem to imply that Google had some special intrinsic value at the time that was worth more than $1m. The Google that we've all been using for the last decade did not exist when this went down, and there's a possibility that the Google that Excite turned down really wasn't worth $1m at the time. The fact that it went on to grow (ie change) over the next decade into a $165b company doesn't imply anything about its worth in 1999.

EDIT: Although, I bet that scooping up the founders would have made it worth it, though their willingness to sell for $750k makes me wonder if they were the visionaries then that they appear to be now.