It was certainly executive-level pricing :) To answer your question, I don't know. The wait list was well over a year, and it was many many times more expensive than other childcare options in the Mountain View area, and utterly unaffordable for me on a senior SRE salary.
The daycare wasn't free, at least not when I started in early 2007, and the waiting list was huge.
It wasn't presented that way through my long interview process where the benefits were discussed a number of times. I relocated from Australia with a young family, and the cost and wait time for childcare was somewhat of a sour note amongst the holy-shit-is-this-place-real feeling of my first few months at Google HQ.