They are positioning it as more of a flattening, which may actually be what's happening but I'm guessing plenty of IC's are still losing their jobs there.
The point with dual-share class is not that the person will automatically do things that are financially terrible, it is that you are beholden to that person's choices. Larry and, to a lesser extent, Sergey are known largely for making bad choices that benefit their employees/friends.
I think this is also due to the nature of their business: Google's search business is the most profitable business in the history of capitalism, you need to deploy almost no capital, you need almost no employees, and you can produce hundreds of billions in revenue...there is no business like it. Zuck is clearly aware that their core business is in decline and has been for a number of years so has been forced to make strategic choices. Google have had to do nothing, their execs are comical, the founders are clearly not up to it...but it doesn't matter. The result they get is nothing to do with the inputs going in.