Jeremy knows A LOT about Google AdWords, he does a lot of advertising for clients, and he's extremely knowledgeable about the API. He has posted extensively on dealing with Google's editorial reviews and dealing with click fraud.
But his post today is palpably dripping with frustration with Google's opacity. Their arrogance, basically, is driving him nuts.
I think we can expect more of this from the people that follow Google carefully and those who depend on Google for their livelihoods, but unlike Jeremy, I doubt it will have any affect on Google's behaviour.
As Jeremy says, they are a "Googlopoly". And their power is not waning, despite the frustration that some people are voicing. There's too much growing demand for their inventory, and MSN and Yahoo just aren't equivalent substitutes yet.
Don't forget: Google is out to dominate advertising.
They want to control the most inventory, and be the dominant market for reaching internet users. They also want to be the Ad Agency of choice for all large ad spenders. They don't care about the Merjis' of the world, because they WON'T BE DISINTERMEDIATED. They will do the the disintermediation, thank you!
That instinct to dominate is driving a lot more of their strategic behaviour these days. If you listen carefully you can hear it in their comments in Google's quarterly results tele-conference.