Okay this is trying to make web 3.0 seem cute but this video frankly does not explain what it is about Web 3.0 that makes it of value. Google's techie culture has consistently failed to understand social, and the youTube video above demonstrates that this is still the case. They can execute core technology which will enable the geo-social web, but they don't get it.
This video probably captures Google's comfort zone. Geeky music, geeky concept, geeky games. It is clear that Google sees the world as clever technical problems to be analyzed and solved in clever ways. This was an improvement on Microsoft's obsession with market share and is why Google has conquered areas like search and online advertising. But it lacks the social understanding.
Google is like the engineer that built the bridge that you and your wife had your first kiss on. The bridge helps support thousands of people every day doing things they want to do, but they don't make that much money from the doing of things.