This is a fallacy, and it only holds up because Google stocks went up over the past years. You need to account for the value of the stocks at the time of signing your offer. (As the increase of stock is not foreseen and as nothing to do with your offer).
Not true, refresh grants happen every year and even if the stock stayed flat, the value of them is very high.
Now if Google lost 50% of its stock value overnight, that'd be a different story. But that would be reflected in the next round of refreshes, which are based on a monetary value at the time of grant.
