Values that people put on things are fundamentally different. Google values that which we give to it more than we value it, and we value what we get from Google more than what we give, or we wouldn't transact with them in the first place. Phrasing the argument in some sort of absolute value terms is failing at the outset.
A better question would be to ask if people undervalue their privacy, but then, if you phrase it that way, it becomes clear Google isn't the only organization taking advantage of that or even particularly special (there are others with almost as much data as Google, just less visible), and walking up to someone and telling them your personal valuation for X is wrong is a tricky thing to do. Not impossible, but tricky.
A better question would be to ask if people undervalue their privacy, but then, if you phrase it that way, it becomes clear Google isn't the only organization taking advantage of that or even particularly special (there are others with almost as much data as Google, just less visible), and walking up to someone and telling them your personal valuation for X is wrong is a tricky thing to do. Not impossible, but tricky.