Are 'glory days' of Google Adsense is over?

There's a report circulating on the Internet that the 'glory days' of Google Adsense are over -- because of a simple anti-website-publisher change that Google made to its Adwords program earlier this year.
Adwords is Google's contextual advertising innovation for Internet advertisers that lets any average person (or small business, or large company) set up his/her/its own ads -- to appear either on the Google Search Engine Page or on website pages like ours, or on both. Adsense is Google's advertising innovation for website developers, which gives websites like ours the chance to earn small dollops of cash each time a site visitor clicks a contextual ad we display. Adsense helps website developers defray expenses related to website improvement and maintenance.
The aforementioned 'Death Of Adsense' Report, states that Google changed its Adwords Program in March 2006 to allow Adwords advertisers to bid a separate price for ads that displayed on the Google Search Engine Page as opposed to ads that displayed on website pages.
From that date forward, an Adwords advertiser could bid high for favorable Search Engine results (which, it is the claimed, are generally more beneficial to advertisers) and bid low for well-placed ads on websites (which, it is claimed, are generally less beneficial for advertisers). And, according to the author of 'Death of Adsense', that's exactly what advertisers have gradually done over the last 6 months -- causing Adsense revenues for websites to wilt badly.
Because we joined the Adsense Program around the time that the change was being implemented (unbeknownst to us), we really can't compare our experience now with the so-called 'glory days' of Adsense. There have been no 'glory days' for us to recall -- nor to compare with. Just a modest trickle of encouraging and much-appreciated pocket-money.
But the 'Adsense is Dead' report makes intriguing reading. And, for those who are interested in such subjects, click following to access a fully illustrated version of this article that contains a live link to 'Life After Adsense'.
Jim and (co-author) Perihan Masters are a husband and wife team, living on the Aegean Coast of Turkey just 50 miles south of Izmir. Jim was born in Shanghai, China -- of American military parentage. Peri was born on the Black Sea coast of Turkey near Trabzon, of Turkish military parentage...Enticed by a Financial Times advertisement, Jim joined a NATO sponsored enterprise in Ankara in 1974 where he met the beautiful and brainy Perihan, a rising young Turkish banking executive. Settled now in the heart of what was once the ancient Ionian Empire -- the couple live an idyllic life by the sea.. writing, drawing and painting, teaching English, and providing computing service support to local businesses. which has built an enthusiastic international following of devoted Turkophiles and inquisitive language students of all ages.

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