If you lack the creativity to understand the opportunity ahead of them (or how the lack of these things has hurt companies like Apple), you should disengage from the conversation. Simply trotting out the tired, nonsensical "hurp durp ads" rejoinder adds nothing to the conversation but demonstrates a bit of tiring flag waving.
And by your very analysis, what is DaringFireball's "product"? It is ad (and t-shirt) supported, therefore the product is ads and t-shirts?
I think the real criticism is that despite all this and all the potential opportunities ahead of them, pretty much all their revenue is from ads. Personally, I don't think of this as a cause for criticism, but I do view such a single point of failure as a significant weakness.
Besides there are plenty of examples where Google earns revenue that isn't from ads. See: Google Apps, GAE, GCE, etc. etc. If "We Are An Advertising Company, You Are The Product (TM)" was Google's ethos and defined all the work that they do they would not have built those products.