The Google homepage does a lot more than that. Since it is one of the most important pages for Google, I think that the engineers over there know what they are doing. I don't think it is a good example of bloat.
A timer for going to sleep would be awesome. Towards the end, the volumne should decrease slowly.
I think an alarm function for waking up would be a nice feature as well. You could set the sounds that you like and when the time comes it would slowly increase the volume over a perioad of 10-15 minutes. This way you could wake up slowly and naturally (forest + rain + thunder would work well as an alarm, for me at least).