The value “generated” actually belongs to the consumers who are forced to pay (doesn’t matter whether directly or indirectly) exuberant prices to a monopoly.
Which is precisely what Google is.
There were many other search engines at one point. Consumers en masse decided to favor Google. Same for email or map or browser providers. Google just has better products from the lens of an average Joe.
Same with smartphones - plethora of choice and yet people are willing to pay through their noses to get iPhones.
