@tedster those points are valid but if you look at it from a different point of view there is useful information that could be gleaned from analytics data. The reverse of your points:
1. Obviously they would only use data available to them. Google themselves would ideally not want to rank under-performing URLs as they are probably poor pages in general
2. You're talking about "fairness" here. We already know Google isn't fair :)
3. "aggregate form" is quite vague! Do we know what that really means?
Think of it this way - if you were a search engine and you had access to all this priceless data would you really not use it?