...there are many ways to hold virtual events. It was common in pre-COVID-19 days for tech companies to run virtual sessions between its staff and sometimes a select group of press or other invitees, and to use streaming and online Q&A management to extend this to a wider audience. Running an event like this requires staff and partner speakers to be there in person, which does not work if they are trying to isolate.
The alternative is a pure virtual event in which even the presenters can work separately, but doing this to the standards expected of something like Google Cloud Next introduces its own set of challenges.
It is also possible that Google is rethinking its approach somewhat in these strange and unpredictable times. The disruption from the pandemic is profound and new ways of working may become the norm, with some tech trends being accelerated and others held back. One prediction seems safe: the role of cloud computing will not diminish.