I was curious how they do this, so I set up a service on Google Cloud Run that just echo'd the user's public IP address. When curl'd over IPv4, it said I was coming from a unique local (i.e. private) IPv6 address. The private IPv4 address of my server was embedded in the address, along with some other random-looking bits that probably identified my VPC somehow. So they must have been doing some sort of stateless IPv4 to IPv6 translation behind the scenes.
It was a clever solution that takes advantage of the fact that all of Google's API endpoints are dual-stack, even though (at the time) they didn't support IPv6 on customer VMs. The problem AWS currently has is not all of their internal endpoints are dual-stack, so even using IPv6 can't save you from cloud NAT costs when accessing AWS services.
As the first hyperscaler, they gotta pay the legacy tax.
Have quite a bit of experience with AWS and Azure, and only recently learning about GCP, it’s very clear that Google nailed Some of GCP’s core cloud engineering concepts and got them exactly right.
Although unfortunately they will never reach the size of AWS or (maybe Azure? It’s hard to tell Azure’s market size as they don’t disclose it.)
GCP especially takes a lot more trial and error building systems that compose a bunch of different primitives. That the API is awful doesn't help either.
I would find it rather surprising if the actual cost to Amazon of connecting a VPC to S3 were substantially lower than the cost of connecting a VPC to any other AWS service.