There's only two product that are profitable for Google - Adwords and Adsense

Google is very vulnerable because of that

That is like saying the only thing NBC makes money with is commercials and TV shows. Microsoft only makes money with Windows and Office. You take away those two things and MS is nothing. A lot of top companies would die if they lost their one cash cow.

Fourth, G is not going to open a laundromat, and G is not always producing magically successful products: they have one and only one commercial success, it's called AdWord/AdSense.

Google might only have one commercial success, but it pays for the hundreds of other services they offer. For all we know, they might open a free laundromat! They already have such services for their employees at HQ. It won't be long before we are all Googlites. Trust me.

There's only two product that are profitable for Google - Adwords and Adsense.

Google Search is enormously profitable. I'd guess that gmail and some of Google's other products are profitable, too.

Granted, those products are monetized by AdWords. But the products themselves aren't AdWords or AdSense, just as NYTimes.com, THE NEW YORKER, or CBS Television are products that are defined by the content they deliver to end users, not by the ad sales that generate their revenues.