what is really scary is not the proposed law but the public relation campaign google is mounting against it.
It is a (very likely) unprecedented internet lobbying effort involving not only googles advertising network, but also a link on google.de (no longer visible).
To a casual observer, watching the short youtube clip or reading the campaign slogan "Willst Du auch in Zukunft finden, was Du suchst?"("Do you want to continue to find what you're searching for ?") it could seem like the government was trying to shut down google search.
It seems like a scary prospect to think of the ways google, a private company, could start to use its unparralled reach to lobby for legislation in its favor around the entire globe.