Interesting that just a few days ago they posted about opening basically the same thing but focused on ML https://developers.googleblog.com/2023/02/MLOlympiad2023.htm... Interesting contrast and I guess a sign of the changing tides.
There is often beauty in good competition problems. And you can even learn something along the way.
Google seems to have skipped out on the prize and substituted branding
At the same time at least Google Code Jam which I participated in, is an event for the masses where while there are winners in the end the focus is on great experience of thousands students and recreationals who participate.
Electricity is also a huge productivity booster, but it doesn't advantage any one person, all have access to the same energy infrastructure. Youtube has educational and artistic content for everyone, but we need to actually use it to get the benefits - it depends on us.