Google operates an exchange for a digital asset, is a major vendor/trader of said asset on that exchange and operates an algorithmic trading platform to enable people to buy and sell on that exchange. On top of that the algorithmic trades are a "black box" with no audit trail, and no public insight into how it operates.
If that sounds familiar, think illegal crypto exchanges...
Obviously "ads" are not "securities", but when you take that along with the monopolistic position Google have between businesses and consumers online, the status quo is not sustainable. The EU is absolutely right to suggest breaking Google up, it should not be allowed to operate as an exchange, broker-dealer, and clearing agency.
Google have systematically taken control away from advertisers over the last ten years, it used to be that we would have deep control and insight into our campaigns. Now, it's all purely algorithmic, you put money in, and they promise to send you customers, with very little control from you.
Something important I want to draw attention to though, there is obviously much to complain about with Google tracking visitors/consumers, but their tracking and "spying" on businesses using the platform is also incredibly deep. In order to advertise effectively with Google Ads, you now need to provide them with full sales figures from your checkout process. They want to feed the "algorithm" with your revenue numbers, not just from sales resulting from ad clicks, but all your sales. Google have amassed the most incredible insight into any and all businesses online. They know exactly how much you are making, how competitive you are compared to your competition, and how much they can squeeze out of you. They are in the position to design the "algorithm" to maximise their take as they can see your figures.
So to finish, they operate a monopolistic exchange, as broker-dealer, clearing agency, and algorithmic trader, at the same time as having full visibility of your books. To me that should clearly be illegal.