I think the thing that will fool people more than anything is that there are actually ads on the site that are designated in bold print with the word 'sponsor' above it. It sort of leads you to believe that these are where the ads are and that the rest of the page is general content. Most of us customize our adsense around our content, that is a case of the exact opposite. See what the google adsense looks like on the page and then create your content after the fact to look exactly like the AS.
Who Bomba, me? I just came across the original example. But either Google hasn't seen it, or Google doesn't mind... You're right Titan, that is extra deceptive. The webmaster put some thought into it, that's for sure!
That's called a "Probability Laws" if your page contains 3 links and 1 ad link so the clicking ad probability is 25% ((1/3+1) * 100) . Now if you your page contains 60 links and 12 ad links .. the percentage will be = ((12/60+12) * 100) = 16.6 %