"VP" has become, not just for Google, a title you get instead of a raise. You know, to make you feel you are getting somewhere with your career without breaking the budget.
Haven't worked for Google but I worked for couple large banks (Credit Suisse, currently Citi) and VP is currently synonym for line manager. You can be Associate VP without having anybody report to you, just a senior contributor.
Banks and Wall Street are pretty liberal with "VP" titles. There they give you that title so the person you meet (to make a deal) thinks you are serious and sent a VP to sell.
Even if you just take SVP don't they have like a hundred of them? I feel it would go a lot better if they put more wood behind fewer arrows (VP+ people). Then maybe a few projects would stick.
