I doubt Google will cut back any time soon, but as a former Google engineer, I find this an entertaining definition of business value ;)
How much money does Google Photos make? Last time I used it, there were no ads in it.
Isn't speech recognition nearly at human levels of comprehension, at least for US English and outside of highly technical jargon? Speech patterns change slowly, so would Android continue to make money if investment in speech R&D were cut back? My guess is yes, it'd be fine.
Does Google Translate make money in some specific, measurable way? I don't mean "well it's neat to have translation links in web search", I mean, would people cut back on the commercial queries that are Google's main source of income if Translate quality stopped improving? I doubt it.
Much of their products are like this. They're products but they aren't businesses. It's very easy to lose sight of the basics of business when inside the Google bubble. The things you mention are not providing business value in the conventional sense of the term because they aren't yielding independent profits. So they're all vulnerable.
That said, vulnerable to what? I think Google is at risk of losing a lot of trust around web search and political and informational search more generally, but commercial queries are probably pretty much impregnable.