Look, I admit that you can't make good business decisions on Google's scale without using the data. That, however, is not Google's problem. It's also important to have vision and principles that everyone in the company understands, otherwise it's impossible to keep thousands of employees moving in the same direction. It would be very easy for Larry to make a decision like:
"One of our core values is to put engineering first, this makes us a place where the smartest engineers want to work, and keeping Google Code around is a strong external indicator of this, therefore we should spend $1,000,000/year maintaining it regardless of profits."
Despite the lack of data you could not fault a CEO for making a gut call like that. Just because you can't measure something doesn't mean it doesn't exist.