Announcing their decision to step down from directly managing the company they created, the Google co-founders wrote:

With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!

John Gruber is having none of it:

This whole “Alphabet” thing is a joke. I still don’t get what they’re even trying for with it. The company is Google and we all know it. The subsidiary owns the parent and everyone knows it. No one is fooled by this. Nothing has changed regarding the goofy super-class shares that Page and Brin hold that give them complete control of the company. Google is a privately-held company that trades as a publicly-held one.

Here’s the thing that’s always rubbed me the wrong way about Google. They’re insulting. Steve Jobs, Jeff Bezos, Bill Gates — I completely believe they’re all geniuses. But they never seem(ed) condescending. Tim Cook and Satya Nadella aren’t founders but they’re both great examples of what a CEO should be: smart, honest, respectful.

Brin and Page are almost certainly smarter than you and me. But they’re not as much smarter as they think they are. Read this whole announcement through the filter of “they think we’re dumb” and it makes a lot more sense. And if they were as smart as they think they are, they’d therefore be smart enough to recognize how tone-deaf this plays.

Yep.