This thing doesn't address the problem it was actually meant to address which is to stop an anticompetitive practice. The spirit of the law in relation to antitrust is that you can't abuse a monopoly in one market to gain a monopoly in another. That's why it wasn't acceptable that Google's Android would set Google to be the default search engine and offer no other options. Now Google says to those other search engine…
How would that monetization be done? We know from Firefox and iOS what happens if you sell the outright default with no selection: Google will buy it basically everywhere. That won't increase competition in search at all. To achieve that, you'd need to sell multiple slots. Which is exactly what this proposal ends up doing.
If the behavior of search engine selection ends up exactly the same in Google-owned Android and in the best-case scenario for an independent Android, where's the problem?
> They're doing sealed bids and you'll have to actually pay what you bid, so... -- That's why I'm saying ALL their profit.
That seems like a fair criticism though. In addition to the issues with first-price blind bids, a year seems like a really long interval. If it was e.g. monthly, there would at least be some scope for iterative price discovery.