They can't juice, because advertisers are now good in calculating conversion rate, roas, cpa, etc, so they would shift budgets to other channels like overnight if see Google underperforming.
So (in theory) advertisers will lower their bids if they're not getting the desired value from the clicks; and over time some will migrate budgets to other channels (like "influencers"? shudder ...).
I still believe large spenders already advertise on multiple channels and balance budgets based on performance.
Google has been sued for being a monopoly, and it's not because they're just really good. It's because there's basically no other market that hits any of the dollar costs.
advertisers decide which channel justifies.
They still bring 250B ads dollars to google search, meaning it provides more than 250B value to them,
That first price auction complain is bs, advertisers will just stop bidding $5 for top click and start bidding $1.1 in his example to hit their goals.