I think that clearly something needs to be done though I don't know what. Something has to give.

Search engines are absolutely a parasitic business, for the mere fact that they could not exist without the content they scrape, index, and serve to users. It would be permissible if Google didn't make a profit by doing these things, but they do. So--something needs to be rebalanced. Either search needs to be a public service, non-profit, or there needs to be a profit sharing or some new licensing scheme or law that the content owners are subject to.