ROFL. They're not quite there unfortunately. Try a google query like:
site:mit.edu viagra
And get surprised at how the MIT is selling viagra :p
Actually that is something different and a little more evil: They hacked the mit page to check (server side) if the referer is a google search results page for the word "viagra"; if it is then goes to the viagra page, if it is not goes to the real MIT website.
I also thought about this, but those sites with hacklinks have first places on Google SERPs.