So what does Google see in blockchain that has them throwing all that money around? Maybe they're finally ready to take crypto seriously?
Blockchain doesn't automatically mean crypto, it can mean tracking it can mean voting, it can be used in logistics and many other things, it's basically a database and databases have been used for decades for almost every single purpose known to man. So the pouring millions into a blockchain project might just be for an extra research for their enormous database usage and their scalability or their payment systems without giving up fiat at all.
There's a good possibility that Alphabet is just playing it smart and allocating a small percentage(basically hedging) into crypto-related companies, just as a sort of insurance for if crypto actually becomes far bigger from here and not just a temporary fad.
It has become nearly a standard where large multi-billion companies are throwing money at hundreds of projects that show a bit of promise, it's the only way right now to keep up with every trend in the world as your own company can't go on a developer hiring spree to cover every niche, so you just invest in each and hope you nailed it as of course, not every bet will bring a profit, and some will fail miserably.