Google is going to suffer in a lot of ways. One of those being the financial market in it's entirety. And then you have those that make their living from google. Lets use the domain industry as a great example. Google has made a number of moves in the past year or so thats putting more and more of a squeeze on our earnings. Grant it they are getting pressure from their paying clients but if you look at the reason PPC came to fruition in the first place then you can get a better understanding.
Before PPC there was only affiliate programs. As time went on those program managers were always asked to increase their bottom lines. The easiest way to do so was to cut the earnings of the advertisers (site owners). Who's going to notice if this guy or that guy didn't get paid on a sale? It got to the point that it really made no sense to display banners on your site because you the site owner wasn't making money from them. So site owners started selling their own ad space, selling per impression, and eventually PPC. Each time advertising managers of the companies were asked to cut their budgets and increase sales. The site owners have to increase their profits so they look for another solution. If you look around you are finding that more and more portfolio owners are setting up their own monetizing platforms.
Now take someone like Frank who at one time provided yahoo with an estimated 1% of Yahoo's search traffic and you multiply him by 100 who have set out on their own or are looking at doing so then you find a goohoo in the making. Point being is there's no sense in these huge traffic providers taking cuts from several different mediums when they can become their own medium and keep 100% of the share even if the share is smaller than the advertiser was paying google. Because by the time it gets to them their actually only getting probably 10% of what the advertiser is paying. With that said I'm not in the least bit impressed with the earnings on the 500,000+ a month traffic we're sending to the usual suspects. And thats after going through their various traffic filtering methods in place. So we will be one of those setting up shop on our own.