This approach would have different consequences to the DOJ's approach. It would leave intact google's ability to provide useful services that Tim Bray and others like, whilst redressing the economic tidal wave that flows google's way, for the better.
How would this work? There are many possibilities. Here are just 2, one of them individualistic and consumer oriented, the other social and community oriented:
1. Google gives coupons to users as compensation for harvesting their metadata. So if a user performs say 5000 google searches per year, google gives them coupons for say $500 which they can redeem on purchases made with vendors who advertise through google.
2. Google funds journalism by paying the metadata harvesting fee into a trust administered by an independent org that facilitates journalism. Like PBS or the BBC but not owned by the British Government, owned independently by a worldwide org that is affiliated with journalists associations.
The logic behind #2 is that pre-google, advertising revenue funded the news business. Post-google, the news business has shrunk by more than 50% of journalists and so the quality of the 4th estate has suffered.