I don't think it was made by google. Google just bought it or rights to it or something. This program is good for beginner 3d modelers, or for doing architectural projects, but it's not that great when it comes to organic modeling and more advanced modeling.
Yes, this is like Pisca, a great program that Google took under their wing. The developers are the same(unless they voluntary dropped the project) and unlike most companys, Google's name isn't pasted all over the place.
This program got a ton of great reviews when google bought it, and as I've heard, they have only made it better.