Sure. Development at Google is glacially slow because nobody does any work, and so they're only publishing releases bi-annually because there aren't enough substantive changes to make quarterly releases seem important. This will also allow the teams to move to biannual OKRs instead of quarterly, which lets ICs and line managers do half as much work while giving executives justification for why they need twice as much headcount.

When it comes to large bureaucracies, always assume laziness over malice or strategic competence.