Yes, to me it looks like they are now primarily selling placement in search results (or just space on their various properties). I never really understood the rationale behind click-based prices; someone following a link doesn't necessarily make them buy, and the ad got displayed regardless. But it's probably because Google was a bit coy about ads in the start to protect its reputation, so they didn't look too much like ads. Now they have so much traffic on relevant terms that they can sell the top spots at an expensive price.