I think that's a very reductive take.
The idea that I can buy placement in searches for a competitor is not clearly a "legitimate IP violation" but I think it's also not clearly "not a legitimate IP violation".
Is it good for society that I can redirect users who intend to be looking for a competitors' products? Its a complex subject that I'm not sure the courts have examined the repercussions of properly. The counterfeit and deception arguments in some of the suits certainly seem like they have some merit to me.