I seriously doubt they'll collapse like Yahoo did- there's a ton of consumer goodwill towards the name, and they do have a budding ecosystem with Android, Google Play, Chrome (browser and OS), and all their cloud services like Gmail (still easily the best email out there).
That being said, the article missed another reason why they will be losing revenue over the next few years- Apple is taking their ball and going home. They are doing everything they can to deprive Google of the iPhone market, replacing Maps (and the data and referral from maps was worth a bundle) and possibly bumping Google from Safari's default search provider. Apple isn't afraid of cutting a partner out completely- just look what they are doing with Samsung.