Do PMs at Google have so much power that they can shut down a product used by billions of people?

They’re not shutting down a product, they’re removing old links.

I’m not defending it, just that I can absolutely imagine Google PMs making a chart of “$ saved vs clicks” and everyone slapping each other on the back and saying good job well done.

They can write the proposals to do so and if it gets picked up by a VP and approved, then they can cite that on their promo.

The product was shut down a long time ago. They're now deleting inactive data of users.