I mean, if they think they can get to 1bn ARR reasonably soon and get, say, 30x on the public markets that's already a better outcome (plus they don't have to work at Google) -- and given their growth rate, an even better multiple might be expected.
In reality, they are most likely losing money at this point like most startups, might take them a few years to hit profitability. But that doesn't seem to have stopped previous startups from commanding insane valuations, so maybe Wiz is able to do that too.