Fair points, having considered it further I think it’s fairly unlikely I’ll actually buy this, but I think it makes sense to have all of the MSCI factor index ETFs so people have the freedom to choose, it’s weird not to have the whole set.
Regarding balancing single stock picks I think it does make some sense, Alphabet shares the same characteristics as other growth stocks so will be subject to similar beta. In the same way as buying Alphabet increases your exposure to US macroeconomics, which may or may not be desirable.
I don’t want to be 100% neutral to MSCI world, otherwise I’d just get that as you say, I just want a bit more control to manage extra exposures, for example I currently have ~15% Value and ~15% Low Cap to overweight those and that’s probably it for me.
I’d really like Quality to be added as I think this is what a lot of people are really seeking when they are picking Dividend strategies if they aren’t aware of Dividend Irrelevance