I think that is a reasonable take, it my more accurately say to both founders and investors that time / money invested in doing something Google is already doing is not a "bad bet"[1]
[1] Caveat search engines? Who knows when that house of cards will finally collapse.
[1] only "knuckleheads" would take that one on ;) Come join the new club in town https://knuckleheads.club/ - your immense knowledge and experience can help the cause a lot.
[1] Caveat search engines? Who knows when that house of cards will finally collapse.