http://phandroid.com/2014/12/31/google-lyrics-search/
In all fairness, lyric sites were terrible. Slow, riddled with ads, and sometimes incorrect. While Google's lyrics are a great service to the user, they're at the top of search and displayed inline. There's no reason to go to lyric sites anymore.
My biggest fear is Structured Data and AMP. With Structure Data, you volunteer your most valuable data in a format Google can easily consume and adapt to its own needs - all so you can get better page rankings. When Google introduces its own service in the same market - just like lyrics - you're effectively cut off from your audience. And with AMP, you don't have to wait for Google to siphon your traffic - you're volunteering.
Edit: on top of that, the video that got taken down was an iphone video of people dancing to a song playing over a stereo - kudos to how accurate their detection is, but goddamn!
In other words, Google seems like a very powerful gatekeeper of content that ends up consuming the content providers. Smacks of an abuse of their position.