Do they? I'm sure they run something, but I'm not sure they're the ones telling Pichai constantly which services to cut. To launch Stadia, to kill Stadia, to get Pichais buddy to take over Google Pay, to fire Pichais buddy who runs Google Pay.

Maybe they are micromanaging nightmare bosses, I wouldn't know. But from all I have seen, from the very start of Pichais tenure, he definitely deserves a huge chunk of the blame.

I don't think that Google's market cap increased by ~$890B because of Pichai, it increased despite him.