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Second, it won't ruin online advertising if lots of people do this. At the end of the day all ads are converted to CPA and bid on accordingly. It's the only metric advertisers care about. They pay by CPM or CPC, which you can game by refreshing the page a bunch or clicking the ads, but the advertiser's cost will just adjust until they're effectively paying the same CPA. For instance, if half of all clicks suddenly become fraudulent, bids will decreases such that CPCs drop by half, resulting in the same amount of money changing hands.
The only real problem with click fraud is when it is applied independently to one advertiser but not the ones he's bidding against. For instance if a bunch of people click AT&T adds fraudulently but not Verizon. If the click fraud is spread evenly throughout the market it has no effect.
How about writing a freeware system agent/daemon that would allow people to submit sites, and then everyone running that agent/daemon would automatically spider the site as one or more standard browser user-agents, so that the IPs would be different and couldn't be as easily blocked without blocking legitimate clicks. You could make it peer-to-peer and rate limiting so it wouldn't be blamed as a DoS attack client. OR allow it to do DoS non-rate limited attacks for some sites if enough clients feel that the site is nasty.
It has to represent a determined social push, the hacker answer could be abused while representing only a small percentage of web browsers.
As a side effect, this would generate reams of extremely valuable personalized data on users!
Google could modify Chrome, such that everything in the browser can be voted on. This alone would be a killer app for Chrome. (Come to think of it, they could even enable voting on UI features of the browser itself!)
Hulu lets you say whether or not an ad is relevant, and although I often do vote, I'm not convinced it changes anything.