> It seems like we are going back to the AOL keyword days... not a good sign.
Not really comparable in my opinion. In AOL, if I remember correctly, you had to register or pay for your keyword much like a domain name. So all keywords were owned by a central authority, could only be used within their ecosystem and had the same type of squatter issues as domain names.
What's happening today are "keywords" being associated with specific websites when, and only when, the users are actively looking for and using that website. This isn't centralized (sure most people using Google but people forget Bing is actually really good and used by many!). You can't simply pay for the top spot anymore.
I was referring to search results not advertisements. You can pay one fee, like a domain TLD or AOL Keyword, and get that spot. With those advertisements you have to constantly put money in to stay at that spot.
There's ton of money being made (sometimes even by honest businesses) on the opposite assumption. Instead of paying the gatekeeper to put you higher on the list you pay some third parties to game the sorting algorithm.