Is Google's Panda update actually bad for the internet? Before Panda, there weren't as many articles poorly spinned (just for search engines). Duplicate content was more prevalent but the PageRank algorithm already takes care of that to a good degree (bad articles directories have a far lesser effect on search engine rankings than the best ones and the best ones already monitored duplicate content to a good extent).
Google panda updates is bad for shorts term ranking but if you need long term ranking with most valuable and relevant traffic then sure Google panda updates is best for internet user and also internet marketer.
Google still makes 80% of their profits from search engine results. They would not intentionally do anything to harm heir profits. However, I do think several good websites got swallowed up in the Panda updates.