The dis-proportionality of contextual pay per click revenue has financed Google's excursions in to all of these other areas.
One has to wonder if Google had just stuck with search, the search product would be significantly better than it is today. Instead we've got Google trying to be everything to everyone, at the cost of the integrity of those search results.
96% of revenue in the most recent quarter came from Advertising. If Google hadn't pioneered contextually relevant advertising it would likely be bankrupt today (as no VC would front the money it costs to run and maintain the datacenters powering search today).
One has to wonder if Google had just stuck with search, the search product would be significantly better than it is today. Instead we've got Google trying to be everything to everyone, at the cost of the integrity of those search results.