Yes Jason is right, the legitimate people could get killed from this much like link list owners were years ago when google gave all of the traffic to stealing pirated tube sutes. Let's face it, when ALL the tubes strated they used stolen content. Many run legit now but it wasn't always like that.
I see this as either nothing will happen or the small guys will get killed again. I doubt google will drop the big boys from their listings as the small tubes usually "scrape" their videos from xvideos, xhamster and the other ones. They could get bigger which is a scary thought.
Google is and always will be the biggest pirate site on the internet since they link to it ALL
