Not at all. We want companies to leverage economies of scale. Efficiency should bring competitive advantage. Google often invests in datacenters in places based around where it's cheaper to power and run them, often owning the energy production.

This is a good thing

Often using subsidies and tax advantages so whether it's cheaper overall for society will depend on the cost of these venefits.

But of limited value for a service like Stadia. Power may be cheaper 1000 miles away, but those 1000 miles cost latency.