Scale and context matters. No one else could afford to pay anywhere remotely near what Google is paying Apple. If it was truly competitive bidding Google could just offer some small reasonable percentage more than the nearest competitor could afford and Apple would take it. The reason google is paying so much over where a market price would be is because they want to discourage anyone, particularly Apple, from even thinking about competing with them. Google is paying Apple 36% of the revenue (not profit) generated by those users.
A pretty good argument could be made that Apple would likely have built up and/or acquired it's own search engine by now if Google wasn't paying such obscene amounts. Apple was previously involved in talks with Microsoft to purchase Bing, and even acquired an ai search startup founded by ex-googlers (LaserLike).
A pretty good argument could be made that Apple would likely have built up and/or acquired it's own search engine by now if Google wasn't paying such obscene amounts. Apple was previously involved in talks with Microsoft to purchase Bing, and even acquired an ai search startup founded by ex-googlers (LaserLike).