Google gets the importance of mapping, and location will be the crux of mobile data aggregation going forward. That being said, I don't think Apple doesn't get mapping. But I think only they can execute it smoothly and relevantly. Google, if given all the data in the world would still execute the UI like an engineer. That's great for the technorati, not so great for the mass. Apple gets UI and leans on Google for the back-end. Google still gets data, therfore: Google is still happy.
No need for a merger, and the fact that Android is still vaporwear shows that Apple has the advantage and doesn't need Google by any means. Google needs Apple to execute the front-end.