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Estimate is 26 seconds on an average per person "wasted" on this doodle. Also, a possibly incorrect assumption that all google visitors on that day played with it.

What exactly is the point being put across here with such stats?

I wonder if it never ever occurs to them that on the flip side, google has saved time for a lot of people over a long time? Where is the math on that you awesome spark-in-my-brain reporter?

It's more like time invested. Assuming the logo attracted new users or made google newbies more into the service, then the more that those people use google, the more time they probably save in the long run.