I say that it is great for users. It doesn't protect your privacy from Google, but it does protect it from several third parties that can snoop on unencrypted http requests:
1) Your ISP (pretty much all of them monitor search engine queries and SELL the data from it)
2) Anybody snooping on a public WiFi network (super easy to do these days).
3) Owners of routers and trunk internet lines.
4) Anybody else that can get a man in the middle.