Actually I apply the same standard to corporations that I would apply to government. Both are run by individuals who can be corrupted. Neither should be allowed to abuse their positions of advantage and Google (the search engine part anyway), by virtue of it's overwhelming market presence and increasing tendency to act politically, presents a threat that should be addressed.
In the first place, Google's search engine is nowhere near a monopoly... See Bing, Yahoo, AOL, Lycos/WebCrawler, and etc. I have a distinct aversion to Google, and I have no problem finding alternatives. For most things, Yahoo suits me fine. So trying to declare a monopoly position against Google is an utter waste of time and breath.
And while I generally agree with you that one can trust neither government nor corporations, I would submit that I will side with corporations right down to the bare nub, before I would ever let Uncle-Daddy get his mitts on the deal... Because at least corporations are subject to market forces. Google could be wasted to nothing five years from now.
Look at AOL. Twenty years ago, they owned the internet, and yet today, and at least for the last ten years, they have almost been disappeared... A caricature of their former self. The Facebook of today is the Myspace of tomorrow. Best to keep Uncle-Daddy's fat nose out of the damn tent.