Is Google AdSense Destroying Hard-Hitting Investigative Journalism?

...some are questioning if AdSense policies are harming journalism.
Specifically, Google has always been careful to replace contextual ads
with "public service announcements" (the dreaded "PSAs" to AdSense
publishers) whenever the contextualizing system believes the content is
too racy (evil?) to be associated with Google. However, as Romenesko points out, that means some more hard-hitting journalism pieces may trigger the PSA switch -- thereby killing off plenty of potential revenue.