Yes, that's exactly how I think we should look at this. The open web is full of AdSense-junkies, while on Facebook they won't have it.
I'm not sure I agree that there's lack of innovation at Google; I'm trying to think of a big company that does any better in that regard and can't think of any.
I'm not sure I agree that there's lack of innovation at Google; I'm trying to think of a big company that does any better in that regard and can't think of any.