I think the pandemic has brought into harsh relief how critical some of those quality of life features were, and advanced their urgency within Google. They're adding so many millions of users per day, and already had a strong initial base product, that building these additional zoom-competitive features is a no-brainer.
And Google Meet is able to bring to bear some of their absolutely amazing advances with ML for things like predictive sound for dropped packets and the new denoiser function they've launched, along with live captioning and some other just incredible features.
There are a few little things that bug me with Google Meet: their newly introduced grid view doesn't display yourself as one of the tiles, for some reason. I don't want to pay $25/mo/user for an enterprise account _just_ for the video recording feature, which I will have to do come September, if they don't extend the current offer to make that available to all GSuite tiers. And I wish it recorded the transcription. But overall, it's a pretty great product, and its tight integration with Google Calendar and Slack, along with its frankly fantastic meeting room hardware has made it our software of choice for some time now for conferencing.
Plus, it's a sunk cost for GSuite users. Aside from a licensing fee for the meeting rooms, I'm not paying an _additional_ per-user monthly fee, which for a small consultancy like mine, matters.