As far as I can see Google hasn't gone out of it's way to make + a compelling end-all identity integration platform that combines all of my other Google service

As far as I can see Google hasn't gone out of it's way to make + a compelling end-all identity integration platform that combines all of my other Google services, (I'm looking at you Reader. Where's my "share with circle" button, hmm?) so I'm not sure where they get this idea that it's going to be one for the web at large is coming from. I think the phrase "they're going to build future products that leverage that information" gives away exactly who these future products are going to be designed and built for. They very carefully did not say "that are going to allow you to leverage this information."