That's their business model but not everything they do is in support of that. The hundred or thousands of employees that works on GSuite-only products like Currents and Meet don't care about phoning home data for ad targeting purposes. The same goes for a multitude of other things they do, eg. hardware, cloud computing, security, mapping (as in the actual mapping; I know G maps shows ads), and probably also 99% of people on the Chrome/Android teams.
As per this whitepaper[0], data made by organizations (in "G Suite Core Services"[1]) is not available to their ad platform, and most likely includes all the related services that are limited to G Suite accounts (Hangouts Chat, Currents, Meet, Jamboard, etc.).
> We do not scan for advertising purposes in Gmail or other G Suite services. Google does not collect or use data in G Suite services for advertising purposes.
I mention the other divisions of Google because what their job title is means they aren't "obligated" to collect everything for use by the ad platform, as the parent implies.
I also doubt much of the actual data is available to the ad platform. Do they know you visited console.cloud.google.com? Most likely via Chrome sync history and/or Google Analytics. Do they know whether or not your cloud project is running a single n1 instance or a fleet of c2 instances? I doubt it, especially because there's not much reason to encourage other cloud computing services to advertise to someone that's directly using a competing Google service.