The lofty ask price may be unduly anchored by the hypothetical value it could have represented to Google in the scenario where something like this turned out to be the next big platform. Web and later mobile represented big shifts of economic activity, and the incumbents all know they need to place a big bet on candidates for any next potential shift, hence many of them making similar moves on VR, AR, self driving cars, etc. If they didn’t, and missed the next big step entirely, they would be judged to be incompetent; if they did and it simply didn’t pan out, no big deal since all the other players were making similar bets. In this context ML may see itself as still representing that potential future value, while others have updated their pricing based on limited uptake of VR and AR so far. It’s unclear where they could find a buyer at that price.