Frankly, I can't understand what's your point with this phrase. I think he obviously meant Google paid 12.5 billion for Motorola — a handset maker with rapidly declining sales, no recent profits, and misguided management - _only for the patents_. He's not ignoring the most salient factor in the deal; he's just reaffirming that, to get to the patents, Google paid 12.5 billion for the whole, including the bad parts that he's highlighting.