Look at the initiators-THE ADVERTISER/Merchant/"Google's Customer". If he/she is not taken care of, it will eventually affect the SEO and Adwords Agencies.
Where's the money? its with the Merchants. The guys spending money on branding are limited, so what are you left with? The product and service merchants. If they are not assisted in some way, it will affect them and eventually others. Something has got to give!
Today there's a whole lot of talk about the "death of SEO", I guess you can make a case for it. However PPC is not too far from reaching that point if Google doesnt make some type tweak or adjustment in the next few years. In the meantime, as long as they make their 24billion, we have to wait & see!
(Please keep in mind I am not saying PPC is dying off, I am simply saying that its headed in a very negative direction and it will only get worse based on their current model)