Orderkaos: It is correct to keep a close eye on Google. The company's stated mission is "to organize the world's information and make it universally accessible and useful." This is unquestionably a noble goal, and their progress toward it has in some ways changed the world. But, as you note, there is also the potential for dangerous abuse if Google succeeds at becoming the world's librarian. And they have sometimes been held back by government: recall that the US FTC decided that it was better for millions of out-of-print books to remain unavailable to the public, rather than for Google to be the only company to provide access to them.

However, on the facts of this case, the EC's ruling is spurious. Google's arguments seemed pretty strong, and it is outwardly hard to believe that this ruling didn't have political motivations. What the EC seems to be saying is that Google should be offering a strictly worse experience for its users, which is not what anti-trust law is supposed to do.