Here’s an interesting bit:
“Schmidt also quoted Larry Pageâ€™s belief that â€œads have value in and of themselves.”
I think that’s true, and why so much criticism of supposed “made-for-adsense” sites is way off. In my view, if an ad answers a users question, that is better than content which doesn’t answer the question. The mere fact that content was hand written by a webmaster does not make it more valuable to the user than an advertisment.
Ultimately, that is up to the user to decide.