Believe me, Google should be paying attention to the moves that one of their largest distribution partners is making, because under their entire ad network, especially with the addition of Quigo, AOL & AOL Search may be able to operate independently after 12 months. http://www.searchenginejournal.com/aol-acquires-quigo-aols-answer-to-adwords/5949/
Don't forget that Google purchased 5% of AOL and that adword ads are displayed on AOL search. If they become too much of a threat, Google will just bulldoze (or AOL) them.
Ebay bought Skype for $2.5 billion in 2005 and it was created in 2003. It recently re-evaluated it at $900 million less. With all due respect to Yaron Galai & Oded Itzhak, who started Quigo at the worst possible time (the NASDAQ 5 year low) and built a company without any VC funding, I find it hard to consider them a true competitor of Google. Keeping in mind the aquisition of advertising.com, AOL still has a long way to go. Look at Yahoo, it took them 7 years to develop Panama and it still is about three years behind adwords.
I agree with you. And we have the example of YouTube also...that was bought a short time after created. I would like to be more companies offering products as adwords and as adsense...so we will enjoy better service and more options.