And in fact S&P had to change its methodology for the S&P 500 a few years ago to allow for the two publicly traded Google share classes (A and C) to be included in the index.
It seems like an arbitrary criterion and God forbid Google starts investing into future growth a la Amazon, but you're right, as long as the profits are rolling in, the interests are aligned. When the music stops, it's yet another GRPN or ZNGA.