Yep. On top of that, it also controls the algorithm. Recently it has been tweaking the algorithm to sell non-relevant keywords to advertisers by making 'exact match' not 'exact' anymore. People have been burning their ad budgets for worthless traffic as a result, and PPC professionals are livid over it with every other post in communities talking about it:

https://reddit.com/r/ppc

Recently someone even posted a timeline of google starting to hide the keywords advertisers are buying and the increase in Google's ad revenue. Eye opening.