"After all, the value is not in the index it is in the analysis of that index."
The ability for a given search engine to innovate is based on having control of the index. The line between indexing and analysis isn't quite as clean as what is implied by the article, if only for the simple fact that you can only analyze what is in the index.
For example, at it's simplest and index is a list of what words are in what document on the web. But what if I want to give greater weight to words that are in document titles or headings? Then I need to somehow put that into the index.
What if I want to use the proximity between words to determine relevance of a result for a particular phrase? Need to get that info into the index, too.
In the end, what the author really wants is for someone to maintain a separate copy of the internet for bots. In order for someone to do that, they'd need to charge the bot owners, but the bot owners could just index your content for free, so why would they pay?