I'm the developer of a relatively popular app (50M+ on the Play Store) and have had very disappointing experiences with the Play Store, but in a rather opposite way from the OP: Once an app reaches a certain level of popularity, you begin to see "knock-off" apps, which are apps with a curiously similar name and icon (and screenshots and description), but which in fact don't do anything except blast the user with full…
After updating my app, they banned my app instead of the other clones and crapware. Citing "Repetitive and Duplicative Content". The clones were so bad to the point that they literally decompiled my app, loaded in their own assets and published it.
Appealing did nothing and I got the exact same response as the article. That was 2 years ago.
Going by this, I would assume that my app had better Ad revenue to Google, but comparing in relative-ness, they dont care about the 4-5 figure you make. Another person will take your place in no time.