Google's strategy, traditionally, was basically what you're describing (modulo the "until their net income is 0" part). Because their belief about engineering was if you get all the smart people and give them some creative freedom, they invent Gmail. And Tensorflow. And Kubernetes.

This has changed. But it's worth noting it is a change. Larry and Sergey retained controlling stakes in Google's IPO specifically because they intended to build a company that didn't operate like other companies... In essence, they didn't plan to give two shits about shareholder capital, they expected the money would work itself out if they just kept making brilliant products people wanted.

But, the founders have left and Google is now just another company.