The skepticism is not about fusion power, it's about cold fusion specifically, as well role of proprietary IP and patents in scientific research.
Tokamak[1] (and other magnetic confinement) reactors seem much more promising and have seen slow but non-zero improvements for decades[2]. Some reactors like JT-60 have come close to being energy positive[3] but are not yet self sustaining. Large ongoing projects like like ITER[4] have the potential to break past limits and provide invaluable data. There are also advances in plasma physics which improve our ability to run computer simulations[5] of Tokamaks and suggest new hypotheses for how they can be improved[6].
If Google were serious about fusion, they would invest in this kind of mainstream research. Unfortunately, that's too big for them to own end-to-end; the most they could do would be to participate in the international process. But that wouldn't result in proprietary, patent-able technology, so they instead they put resources behind fringe science that they can control. This is reminiscent of the Lockheed-Martin CFR[7], which also chose an approach which was extremely unlikely to result in a scientific breakthrough but which did yield a few patents for Lockheed-Martin.
Frankly, behavior which is only one step removed from straight-up patent trolling justifies a certain degree of cynicism.
[1]: https://en.wikipedia.org/wiki/Tokamak
[2]: https://en.wikipedia.org/wiki/Timeline_of_nuclear_fusion
[3]: https://en.wikipedia.org/wiki/JT-60
[4]: https://www.iter.org/
[5]: http://www.psfc.mit.edu/research/topics/plasma-fusion-theory...
[6]: https://phys.org/news/2019-01-scientists-stabilizes-fusion-p...
[7]: https://en.wikipedia.org/wiki/Lockheed_Martin_Compact_Fusion...