Misleading to the extreme. It's not like the employees who built Google+ aren't producing value on other projects—now through code reuse, and in the future more directly.
I agree, it is a bit extreme. However, they did say it was a 'ballpark'.
Why did they include the On2 purchase? Does Google+ have WebM/VP8 features I didn't hear about?
The Hangouts part where you video chat with many people I suppose.
Supposedly that's still using Vidyo as it requires the google talk video plugin right now. The WebM stuff is coming down the road.