I think they've lost track of the meaning of IO and its keynotes for users. They should rather have a separate Gemini event like they had a separate Android one last week.
They're collectively losing track of their product verticals because they're too focused on shoving AI down everything. Google Home is a cluster-f, basic things keep failing, and every other announcement from the Google Home VP is about Gemini. It took them years to reduce the frequency at which devices go offline.
Even their sessions seem underwhelming. It's a mixture of "what's new in X" and "AI" this and that.