Yes, that's the next logical step. The only silverlining is Google currently has less of a moat than last time in the technology in question, so some upstart could always be on their heels in a Kagi-esque way.
If ads is the next step then AI could never be used for coding. And if you mean in the browser or chat only... then people will just make a wrapper around the api.
Displaying what you searched for immediately is cannibalizing that market.
I'm guessing ads in AI results is the logical next step.