Isn't it the opposite of a line-item hack? Instead of being able to hide the losses of their other bets in the profits of their ad division, the alphabet structure gives their investors visibility into exactly how much money the non-google parts of the company are losing.
The hack is (and I can't explain why because I don't get it) a lot of investors still look at Google and only Google and don't care how much money the 'bets are losing.
