Why I am disappointed by Google buying Nest

Why is everyone disappointed by Google buying Nest?
Instead, there's a chorus of concern — some sincere, some contrived, but all of it grounded in fear of an unchecked Google.
I agree with much of the article, although that conclusion is in contradiction with this:
the fear that a slower, less innovative giant will kill the spirit and pace of a beloved startup
There is no doubt that this acquisition is good for Google, and good for Nest founders, investors and employees in the short term. But are acquisitions like this one generally good for society? I tend to think that it is not the case.

Personally, I don't worry much about Google's collection of thermostat data. Yes, that could go unchecked at some point in the future, but that's another fight - that of making sure that users are in control of their data, whether captured by Google or others.

Instead there is a bigger worry, which is that due to the relatively slow pace of developments in large companies, as well as the scarcity of engineering talent, promising companies like Nest are being taken away by the brute force of the billions of dollars they are offered the ability to grow and become successful companies on their own.

This not only slows down the overall pace of "innovation" (to use a tired term), but also yields to increased concentration of power.