That's a very good point that I've not seen made so well before.
After so many failed Google interviews, I found it easier to build a company and sell it to them, instead.
I would argue that they don't and I believe that it is due to their hiring process. Now I do believe that they have very talented individuals but there organization reflects their interviewing bias as such so does their product portfolio. There is a reason that they have to acquire new products for their portfolio and that reason is that they are not recruiting the kind of people that generate new products. As such their hiring process should be suspect.
37signals hires for business value because, as a small company, it has to. Google is a huge company and doesn't have the same incentives. Google's size can blind it to the fact that its hiring practices optimize for mathematical knowledge and intuition over business value. And, as a business, Google is wrong and 37signals is right.
I don't believe that's the case. What I've seen with talent acquisitions (at Google and elsewhere) is that interviewing the team is actually prerequisite to making the acquisition. Of course, the interview doesn't have to be as rigorous: during the due-diligence process you can actually view the codebase and see the individuals' contributions.
What I've also seen, specifically in the case of Google, is that individuals from acquisitions would be asked to stay a year, at the end of which they'd need to interview for other positions at Google: if they couldn't pass the interview, they'd be let go with a very generous severance package.
That said, I am sure there are exceptions.
(Also, I've never heard of G+ being in any way a product of a talent acquisition.)
Generally whenever I've done this to recruiters their interest level goes up and they tend to be far more willing to listen to your concerns about the interview and go to bat for you. And recruiters tend to have a lot more ability than you might think in getting parts of the technical interviews largely ignored by hiring managers - including at Google.
Incidentally my impression from having talked to several Google recruiters is that a decent number of them are incredibly frustrated with the way the process work, and will work hard to get you past this hurdle if you want them to and provide them with enough ammunition (e.g. explain why the question was inappropriate for the position).