But while the fine isn't too damaging, what may mean more to the company is the bad publicity associated with it.

"I think the bad press is enough to make companies like Google change their ways, because usually the press precedes any investigation by government agencies, which is sad, to say the least," said Jim McGregor, principal analyst with TIRIAS Research. "When issues like this are identified, the changes are usually made long before any sanctions are handed down."

Olds doubts the episode will change anything for customers or between Google and its competition, but the bad press could be a catalyst.

"It's more painful than the fine that the FTC imposed," he added. "It's this negative publicity that might keep Google from so obviously flouting an FTC order again. And if there is any future flouting, it will be much more subtle and hard to detect."

Brad Shimmin, an analyst with CurrentAnalysis, also pointed out that the FTC fine may be a cautionary tale for other companies.