"Google derives most of its value from advertising where it competes primarily with Microsoft, Yahoo and Facebook. . According to our estimates, standard PC search ads account for over 30% of Google’s overall value and 60% of its revenues. However, the recent trend in earnings indicates that the growth in online PC ads revenues is slowing down. Additionally, the company’s market share of the U.S. search marketplace has been stagnant at 67%, according to latest data by comScore."
Primarily ad-funded free websites would make losses, or go paid. Us, the customers, pay for not wanting to see ads. Of course, this is just my opinion on what might happen.