I've been at Google for about 7 years now and i really dislike what it is today compared to what it was back then. But that said, i still haven't quit because it's so much better than so many other places. Most people i know who quit either went to Facebook (either for the pre-ipo options or because it's apparently easier to launch things there) or to do their own thing. If you have to have a boss and work in a large organization then despite its many, many failings (for they are legion), Google is still by far the best option in software engineering. And the pay and perks are pretty good.
Also, if you are a new grad who like engineering, all of this is pointless irrelevance. If Google makes you an offer shut up and take it for at least 2 years. Even if the project you get is like stabbing yourself in the eye repeatedly, just reading the code in the core google libraries and figuring out why systems are designed the way they are and talking to random people will up your software engineer game much, much, much more than any other place. Talent here is not as uniformly spread as it used to be, but when you find it, the quality of people here will blow your mind. And if you get to work with them, you will up your game even more.
Also, if you are a new grad who like engineering, all of this is pointless irrelevance. If Google makes you an offer shut up and take it for at least 2 years. Even if the project you get is like stabbing yourself in the eye repeatedly, just reading the code in the core google libraries and figuring out why systems are designed the way they are and talking to random people will up your software engineer game much, much, much more than any other place. Talent here is not as uniformly spread as it used to be, but when you find it, the quality of people here will blow your mind. And if you get to work with them, you will up your game even more.