Everything in play services is most certainly not Application level. I presume you didn't read the linked article or the other comments here about the APIs that are migrating there.
The downside is the new APIs are showing up in the closed-source Google Play services, and not in the open source Android project.
http://developer.android.com/reference/gms-packages.html
The only thing there that is not explicitly tied to Google itself is the new location stuff. The rest is game, maps and Google+. I could totally see an argument that the location stuff (geo-fencing and such) would be more appropriate in AOSP, but that's about it. I'm going to keep my pitchfork holstered until I see a real pattern. Well, probably not even then since I don't see closed-source as a personal affront, but you get my drift.