The $10B figure is for Android licensing and hardware sales, and doesn’t include app revenue or the play store, which OEM’s don’t have to include e.g. in China

The $10B figure is for Android licensing and hardware sales, and doesn’t include app revenue or the play store, which OEM’s don’t have to include e.g. in China where Google’s services are all banned. If the Play store went with Android to a new spinoff company that would certainly be a more financially viable company, but that’s a much, much more invasive dismantling of Google than separating out Android the OS and hardware platform. Once a proposed division gets deep enough to be partitioning datacenters it becomes less a discussion of spin-off companies and more a discussion of abolishing Google and seeing where the pieces fall.