...which is only half true.
In fact, advertisers will soon realize that they are paying BOTH the middle man and Overture for ultra cheap traffic tunneled from our sites to Google to the middle man to Overture to their sites. Advertisers probably will try advertising directly with Google and could save tons of money. Cutting out the middle man saves money!
I would have hoped for Google to ban the Overture arbitrage guys as well, for this exact reason. But apparently the Adwords team is too keen on getting the fat cheques from the arbitrage guys (after all, life is hard enough).
To me, one thing is clear: Noone at Google is concerned about the user experience. That's why my filter remains filled to the max.