It isn't that simple. For some types of advertising (getting the mass market to drink Bud Lite, for example), TV commercials make a lot more sense than AdSense-style ads do. And Super Bowl commercials (the example you used) often have other purposes beyond merely conveying a message to the viewer: They help to motivate the sales force, reassure distributors and dealers, and build buzz among consumers--including those who didn't watch the Super Bowl--through conversations like "Did you see that great Apple spot where the bulldog with the iPod gave his headphones to a poodle and played 'I Will Always Love You'?"
For the most part, AdSense ads fall into the "search ad" category, meaning pay-per-click text ads. Such ads are great for specific applications, such as promotions and lead generation, but they're just one piece of an overall advertising plan. In fact, several recent studies have shown that even search ads work best when then they get "lift" from display ads.
For what it's worth, some of us have witnessed substantial increases in AdSense EPC in recent months, so bids aren't necessarily the problem. Getting consumers to click and convert for the advertiser is the bigger challenge in an economy where many people are understandably nervous about their jobs, debt load, and savings.