Ok, he's joking about that second part, but the Colonel knows a great marketing opportunity when he sees it. TMZ Hip Hop caught up with Master P in Burbank, CA, outside Walmart -- the soon-to-be retailer of his and Snoop Dogg's breakfast venture -- and he said he'd better understand Google mistaking him for the cereal's mascot, instead of Luther. 😂

The No Limit rapper tells us he understands social media's fascination with the Google gaffe, but thinks the tech giant might be letting their AI bots run too much of the show behind the scenes -- something Questlove of The Roots seems to believe as well.

Google finally corrected its mistake but P says it needs to do more ... like using its algorithm to shine a light on his brand. He notes Google's vaunted search engine did get at least one thing right related to him -- crediting his and Snoop's Broadus Foods as the first Black-owned cereal company.