There are lots of them, but they tend to get canceled early. As an outsider, you only see projects once they've reached some baseline threshold of viability - a large number of projects never reach that, not because Google says they can't but just because they're bad ideas to begin with.
I spent about half my time at Google working on mundane improvements to search - visual redesigns, feature unification, infrastructure improvements - and half working on crazy green-field projects. Most of the crazy stuff was eventually canceled, and the stuff that did launch (eg. Google Authorship) ended up being a lot more toned-down than we initially envisioned. Ultimately I think I learned more from the crazy projects, but it's a very different kind of learning, much more experiential than factual.
The other thing you learn when you actually succeed at a crazy new idea is that people build up a tolerance to them really quickly. The first time we did an interactive doodle on the home page (PacMan...actually technically that was the second, but it was the first people noticed), everybody went wild, it was in all the newspapers, and we calculated people spent 4.82 million hours playing it. Now when an interactive doodle comes out, most people don't even notice. Remember that Google Docs, GMail, etc. were revolutionary in their day; it's only because they've become successful that you don't want to work on them.